Regency Cruises was a Greek cruise company operating former ocean liners in the late 1980s and early 1990s, formed by Anastasios Kyriakides and William Schanz.

[3] In 1994 the line purchased the former car ferry M/S Canguro Verde, renaming her the Regent Jewel, and invested a significant amount of money for its acquisition and refit.

Regency planned to operate the ship as the Regent Isle for the start of the 1996 cruise season.

Travel agents were also seeing late commissions on bookings, the company's president Ron Santangelo had resigned, and the Regent Rainbow had been arrested in Tampa.

[4] A primary contribution to the bankruptcy was the large acquisition and refit investment of $31.4 million in 1994 for the Regent Jewel.