Regent Seven Seas flout EU consumer legislation

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GAT

Apr 23, 2018
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I am retired living off my savings (which have been reduced by around 30%). This cash would last me many months thus reducing the need for me to withdraw savings (ie sell assets) at a vastly reduced price, thus having a long term impact on my retirement funding position. Apart from that its a matter of principal. RSSC are stating a position to their customers which is contrary to the legal position. Honesty is always a better policy.
I understand your wanting your money back ASAP; I would, too. But your argument is not persuasive, because you chose to use your assets to purchase a cruise. Had the cruise sailed, you would have been in the same financial position now (perhaps even worse due to ancillary vacation expenses), but you would be entitled to no refund. You'd still be selling assets under your scenario. So I would just relax and wait for your refund, then re-invest it when (if) it comes.
 

GAT

Apr 23, 2018
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I followed up on this with several sources and this news appears to be inaccurate. The most derogatory information I saw was that "the cruise lines CPAs said it might go bankrupt". I think financial experts could say that about any company whose revenue stream has dried up while expenses continue during this crisis..
Correct. In the United States (and probably European countries also) a public company's auditors are required to qualify their audit attestation if certain situations indicate the company may have difficulty continuing operations as a going concern.
 
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Sep 3, 2018
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Correct. In the United States (and probably European countries also) a public company's auditors are required to qualify their audit attestation if certain situations indicate the company may have difficulty continuing operations as a going concern.
Confirmed that International Standards on Auditing (the rules the EU uses, though not developed on its watch), like U. S. GAAS, contain that requirement.
 
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