The owner of the Miami Seaquarium filed for federal bankruptcy protection in Delaware on Monday, the latest chapter in an iconic tourist attraction that has become the focus of protests over alleged animal mistreatment.
It said new company leadership would focus on animal safety. But some activists hoped the filing would hasten the park’s demise. “We will be glad if this hellhole closes, said Chris Carraway, a staff attorney at the Animal Activist Legal Defense Project, which is defending a former trainer being sued by the company.
In a 17-page filing, Leisure Investments Holding LLC estimated there were up to 1,000 potential creditors, listing between $100 million to $500 million in assets for 15 affiliated companies.
READ MORE: Miami Seaquarium faces eviction over animal welfare
The Dolphin Company, as the company is more commonly known, said in a press release the move was to “address short-term liquidity needs and resolve challenges regarding the Company’s capital structure, while ensuring the continuation of its operations and placing a strong emphasis on animal safety and wellbeing.” The Dolphin Company operates 30 parks in eight different countries.
It said that new corporate leaders were at the helm: Steven Strom, of Odinbrook Global Advisors, and Robert Wagstaff of Riveron Management Services.
Miami-Dade County officials have been trying to terminate the Seaquarium’s lease, alleging nonpayment, but a Circuit-Court judge denied an effort for an immediate eviction last October.
In the press release, Wagstaff, identified as the “chief restructuring officer,” said that new managers would “collaborate closely with state, federal, and international authorities to address ongoing requests and investigations related to the health and safety of animals.”
But there was no mention of Miami-Dade County’s eviction suit. County Commissioner Raquel Regalado said the filing was being studied and that officials had reached out to the new attorneys and hoped to have more information by the end of the week.
Word of the Chapter 11 filing was first reported by Bloomberg. The bankruptcy process is intended to allow struggling companies to reorganize by discharging debts under court supervision.
This story was originally published in the Key Biscayne Independent, a WLRN News partner.
