Norwegian Cruise Line ex-CEO sues Virgin

Sir Richard Branson sued over Virgin Cruise plan
A former chief executive of Norwegian Cruise Line is suing Virgin boss Sir Richard Branson for – he says – stealing his business plan to enter the cruise market.
Colin Veitch, who was Norwegian Cruise Line’s CEO from 2000 to 2008, and his company VSM Development are seeking $300 million in damages and have asked a judge to stop Branson’s cruise venture, which was launched in December.
The lawsuit was filed in a Miami federal court and alleges that Virgin reneged on an agreement signed in May 2011 over how estimated profits would be split, which ranged from nothing to up to $315 million if targets were met.
A Virgin spokesman told the newspaper The Telegraph: “Richard Branson and the Virgin Group first looked at the cruise market in the late 1970s, and our current team has been exploring the opportunity for more than a decade. Over the years, we have been in discussions with a number of parties including the plaintiff, and those discussions ceased in 2012. We strongly believe the claim has no merits.”
As previously reported, Virgin Cruises recently revealed details of its shipbuilding plans. The first two vessels will cost a combined $1.7 billion and take up to five years to build.
TTG Digital
[image courtesy Virgin Vacations]