Owner of Tinian Dynasty Hotel & Casino has filed for bankruptcy not to go out of business, but to continue doing so.

Hong Kong Entertainment Investments Ltd. (HKE) has filed a Chapter 11 petition in the U.S. District Court on Friday, citing insufficient assets to meet its liabilities.

Based on the petition, HKE’s total assets amounted to $55.2m, comprising of more than $51.3m from real property and $3.9m from personal property. However, the company’s summary of liabilities amounted to $285.5m—$175.8 million is owed to creditors who have claims secured by property; $76.7m for priority unsecured claims; and $6.4m unsecured claims.

HKE legal counsel Timothy Bellas said that the purpose of Chapter 11 is not to go out of business but to continue doing so and one of the priorities would be to ask the court to pay the unpaid salaries of Tinian Dynasty employees and federal and local taxes.