PANAMA CITY, Fla. – Gulf World Marine Park is currently under investigation by both federal and state agencies, with the inquiry ongoing for over a month. Shortly after the investigation began, the park and its parent company, the Dolphin Company, filed for Chapter 11 bankruptcy. On Tuesday, an emergency court hearing was held in the Bankruptcy Court for the District of Delaware to address the case.
Key questions raised during the hearing included who controls the Dolphin Corporation, how finances will be managed, and how the well-being of both animals and employees will be ensured.
The dispute primarily involves Eduardo Albor, one of the original CEOs of the Dolphin Company, and Robert Wagstaff, a member of the reorganization team overseeing the company’s restructuring efforts.
A significant issue in the case involves the jurisdictional question of whether U.S. or Mexican courts hold the final authority in deciding key issues.
Court documents show that Albor’s team claims he was unlawfully removed from the company and alleges that Wagstaff’s team illegally entered one of Albor’s properties in Mexico. In turn, Wagstaff’s team claims that they were forcibly removed by Albor’s team, with the assistance of armed individuals, an accusation that Albor denies.
Regarding the animals housed at U.S. facilities, the debtor’s counsel informed the court that an expert has been brought in to oversee their care. Discussions included plans to relocate sea lions to a safer location to ensure their well-being. While no discussions were made regarding the dolphins or other animals, the court was assured that a professional is specifically tasked with ensuring their care.
Most properties owned by the Dolphin Company remain open and operational. During the court hearing, all parties appeared focused on ensuring that employees are paid appropriately and that business operations are managed transparently. In addition, there was collaboration between all parties to establish guidelines for document submission and the scheduling of depositions.
Although no definitive resolutions emerged from Tuesday’s hearing, key issues, such as debtor-in-possession financing, will be addressed in a court hearing scheduled for May 5.
