Affairs Afloat, Inc. Takes On Water With Chapter 11 Filing
Affairs Afloat, Inc. voluntarily filed for Chapter 11 bankruptcy relief on October 15th, 2013. The petition was filed in the Bankruptcy Court for the Southern District of New York. The case has been assigned to the Honorable Judge Burton R. Lifland, under case number 1:13-bk-13356. (Click case number for docket summary.)
The debtor is a river cruise operator that operates in New York City out of Pier 78 on West 38th Street. Affairs Afloat, Inc. was established in 1988 and provides services through its two river cruise ships, The Queen of Hearts (pictured right) and The Star of Palm Beach. The Queen of Hearts is a three level ship that is Coast Guard certified for 450 guests plus staff and crew. The Star of Palm Beach is a two level ship and is Coast Guard certified for 380 guests plus staff and crew.
Affairs Afloat hosts various cruises on specified dates in addition to its weekly cruises such as its Shadow Nightclub on Tuesday nights, Cruise Brasil on Wednesday nights, Candela Cruise on Thursday nights. Debtor also holds a Kiddie Cruise on Sunday afternoons. Debtor offers group packages for many of its events and its services are also available for private events. For more information about debtor’s programs and services please visit their website here.
Debtor claimed assets and liabilities of between $1 and $10 million with HSBC Bank, the Internal Revenue Service, the Security Exchange Commission. It appears that the Chapter 11 filing has not affected debtor’s operations as it is accepting reservations for cruises for Halloween and New Year’s Eve. Affairs Afloat, Inc. is represented by Jonathan S. Pasternak of DelBello Donnellan Weingarten Wise & Wiederkehr, LLP.
Posted on April 13, 2014, in Chapter 11 Debtors, entertainment industry, New Chapter 11 Filings, New York, NY chapter 11 debtors and tagged bankruptcy, chapter 11, Chapter 11 Title 11 United States Code, commercial bankruptcy, debtor, Internal Revenue Service, justin saporito, law, mazurkraemer, new york, New York City, River cruise, United States District Court for the Southern District of New York. Bookmark the permalink. Leave a comment.