Villa Vie Odyssey “forever cruise” residents want their ship back

November 8, 2026 / 8:28 AM EST / CBS News

As the Villa Vie Odyssey cruise ship makes its way from Cambodia to Singapore, where it could potentially be auctioned off by its lender, CBS News has learned of at least two resident-led efforts to reclaim the vessel.

One effort recently failed after a lender denied funding to residents of the luxury "forever cruise." However, a second effort to buy the ship is still very much active, according to two sources familiar with the matter. It is led by another group hoping to buy the ship at auction, the sources said.

The second effort would not involve Villa Vie Residences' founder and executive chairman Mike Petterson, according to sources involved in the discussions.

Petterson said he believed he had an operational partner to rescue the ship, but that did not pan out, which led to the ship being taken by its lender.

Now, Petterson says he believes he could still get the ship back and is continuing to look for potential investors to take over the ship for good. Another option would be to raise the funds to file for Chapter 11 bankruptcy and sell the company. He no longer…

Original source: https://www.cbsnews.com/entertainment/