The new owners of the Miami Seaquarium are actively seeking permission to sell all businesses under the Dolphin Company banner after acquiring control of an international network of marine tourist attractions.
This move comes amid a backdrop of legal complications that have raised concerns about animal welfare, notably the recent death of a dolphin named Samira at Gulf World Marine Park in Panama City.
As a result, U.S. Bankruptcy Judge Laurie Selber Silverstein held former CEO Eduardo Albor in contempt of court on June 5.
Judge Silverstein threatened Albor with daily fines of $10,000 if he did not cooperate with the new management team, led by Steven Strom and Robert Wagstaff.
During a recent hearing, the judge expressed her concern regarding the situation, highlighting the importance of communication in potentially saving Samira.
Silverstein remarked, “We lost a dolphin, and I don’t want my delay to create that situation again. Samira, to the extent we could have saved her because of communication, it’s on all of us.”
In response to these events, Florida Attorney General James Uthmeier announced a criminal investigation into the operations at Gulf World and the parent company of the Dolphin Group.
James Moon, an attorney representing Albor, has not provided any comments regarding the possibility of an appeal against the judge’s ruling or his client’s legal challenges in Mexico, where Albor has contested his ouster.
Despite his efforts, Judge Silverstein noted that no courts in Mexico have supported Albor’s claims.
On Friday, the new management team filed a request with the court to hire two firms that would assist in selling and restructuring the network of Dolphin Company businesses.
According to Robert Wagstaff, the chief restructuring officer, the Dolphin Group operates 30 attractions across eight countries and has begun evaluating which properties should be categorized as ‘going concern’ or ‘real estate.’
The court documents suggest that Gulf World will not continue as a viable operation, indicating that alternative uses for the property will be explored, although Miami Seaquarium’s fate remains less clear.
Once home to the iconic TV show “Flipper” in the 1960s, Miami Seaquarium is now facing potential eviction from Miami-Dade County, with Mayor Daniella Levine Cava expressing intentions to close the attraction and repurpose the County-owned property.
This eviction process has been stalled due to the ongoing bankruptcy proceedings.
Commissioner Raquel Regalado, whose district encompasses the Seaquarium, revealed that dialogues have been ongoing with the new owners, though she did not foresee a swift resolution.
She emphasized the County’s insistence on adhering to the lease conditions, stating, “We are holding firm to our lease requirements. We don’t want this to be valued incorrectly.”
Commissioner Regalado further noted that the property has strict limitations preventing its conversion into residences or activities that violate designated use restrictions.
As part of the auction deliberations, Keen-Summit Capital Partners, a New York firm specializing in bankruptcy property transactions, is expected to manage the auction process.
Meanwhile, for properties that are viable as ongoing operations, the new management team is seeking approval from the court to engage Greenhill & Company, an investment banking firm based in New York, to seek potential buyers.
The future of the Miami Seaquarium and its related attractions hangs in the balance as the restructuring process unfolds.
image source from：https://kbindependent.org/2025/06/16/new-seaquarium-owners-secure-control-plan-to-break-up-dolphin-companys-marine-park-properties/
