Renaissance Liquidates

August 7, 2002

Renaissance Cruises is in the final stages of sinking into the sea. The
company's liquidation plan has been approved by Miami's bankruptcy court, the contract of its former CEO Manfred Ursprunger, who had stayed on until the company was formally unraveled has ended, and attorneys for the company's unsecured creditors will start paying out what's left.

Speaking of Renaissance, P&O Princess seems to have taken a liking to its R-class ships. The line has agreed to operate R3 and R4 in Tahiti and has assigned R8 to its Swan Hellenic. Otherwise, the remaining five are lined up, sadly, at a pier in Marseilles (cruisers heading to that port on European itineraries may want to shoot a photo).