Creditor takes control of Villa Vie’s residential cruise ship Odyssey
The lender for Villa Vie Residences has seized control of the residential ship Odyssey following the suspension of its world cruise and ongoing financial difficulties.
The residential cruise ship Odyssey, currently docked in Cambodia, has been taken over by its lender after the company suspended its around-the-world voyage. The lender has assumed responsibility for operational expenses, including crew wages and fuel, while the ship is expected to be moved to Singapore. Villa Vie Residences is currently exploring restructuring options, including potential debtor-in-possession financing and further contributions from residents. The future of the vessel remains uncertain, with the possibility of it being offered for auction if the company cannot resolve its financial obligations.