Former Passenger Hopes to Buy Failed Cruise Ship

Olson, 47, was among the passengers on the multiyear Villa Vie Odyssey voyage, which came to a halt last week amid rising fuel costs. The ship, promoted as a home at sea with more than 400 port stops, is headed to Singapore and is expected to be auctioned. “I'm not ready to be done,” Olson said, adding that she would watch for a chance to buy it at a low price.

Olson was an original investor as well as a passenger. She has invested over $1.5 million in two cabins, an ownership stake and additional contributions to the company. In April, she considered lending executive chairman Mikael Petterson another $2 million, but said she wanted a full financial audit and assurances about protecting her investment. She said Petterson did not provide them.

Villa Vie had asked passengers to lend it $3 million for fuel, offering annual interest of 12 to 24 percent. Olson instead joined two fellow passengers in forming an investment company intended to pool residents’ money, pay the ship’s debts and take it in a new direction. Passengers had also raised concerns that the company’s fees did not account for inflation. The ship’s auction could give Olson and her partners an opportunity to pursue their plan, though no purchase is confirmed.