Wednesday, October 3, 2007

More Trouble for Windjammer

Official word about anything from Windjammer Barefoot Cruises seem nonexistent, but as anyone following the story knows, there are clear signs of trouble. But there is official word from the investor who at one time appeared to be their rescuer: The deal is off. Not only that, but now he's in the group of people filing suit against the line.

An article in the Miami Herald today, spells it all out. Basically the Herald article says that Jerry Ceder claims he broke off negotiations with Windjammer when he found they were also in negotiations with another investor, despite the contract with him that prohibited them from doing that. Not only that but TAG Virgin Islands which was believed to be part of the financial rescue, now tells the Herald that they were never involved.

Ceder's lawsuit claims he advanced Windjammer $373,000 during the negotiations to pay expenses and keep the ships from being arrested. He then says he became aware of Windjammer soliciting other investors. He wants his money back in addition to unspecified damages.

More trouble for the troubled line.

Note: Link is valid at the time of posting.