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KfW IPEX-Bank arrests World Dream in Singapore

World Dream in Singapore
Dream Cruises' World Dream was arrested in Singapore on Wednesday by KfW IPEX-Bank, Seatrade Cruise News has confirmed with the bank.

KfW IPEX-Bank is a 100% subsidiary of Germany's KfW, a creditor of Genting Hong Kong. 

Arrest was presaged

The arrest was presaged last week when Dream Cruises said World Dream would cease operation Wednesday on completion of its current sailing, due to 'mounting creditor pressure which poses an immediate threat to the operation of the vessel.'

Dream Cruises is under the control of joint provisional liquidators Edward Simon Middleton and Wing Sze Tiffany Wong of Alvarez & Marsal Limited in Hong Kong and Edward Alexander Niles Whittaker of R&H Services Ltd. of Bermuda.