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In a closely guarded auction conducted just hours later, three contenders vied for ownership. The auction’s outcome is set to be reviewed by the judge this Wednesday.
MARINELAND, Fla. — On Monday morning, a judge decided to reopen the bidding for the sale of Marineland Dolphin Adventure, breathing new life into the process.
This decision has finally enabled a coalition of dolphin specialists, who are keen on preserving Marineland as a dedicated dolphin sanctuary, to formally participate in the auction.
The initial auction for Marineland took place in October. However, when the moment arrived for Judge Laurie Selber Silverstein to confirm the highest offer, unforeseen details came to light: Marineland remains operational and houses 17 dolphins alongside 1,200 other animals.
Consequently, Judge Silverstein advised the attorneys representing the debtors to entertain the possibility of a new auction, allowing the group of dolphin experts the opportunity to place their bids.
Monday, that very case unfolded in a Delaware bankruptcy courtroom. The judge approved the process to start again in the bankruptcy case involving The Dolphin Company, the parent company that owns Marineland and many other dolphin parks around the world.
Three entities were allowed to bid.
- Texas-based Delightful Development, LLC. It is led by developer Craig Cavileer, who placed the highest bid in the first auction.
- The second is the Hutson Companies from St. Johns County. It was the second-highest bidder last time. Hutson Companies has developed the Silverleaf and Oakleaf Plantation neighborhoods in northeast Florida.
- And the third bidder the judge allowed is a group called Apex. It’s a group of dolphin professionals, along with a benefactor, who would like to keep Marineland a marine science facility.
Last time, Delightful Development had bid $7.1 million and Hutson Companies bid $7.05 million. According to Monday’s hearing, Apex has acquired $6.5 million.
However, the debtor’s attorneys determined that because Apex would not be moving the animals, its bid was equivalent in value to the highest bid.
The auction between the three was quickly scheduled for Monday afternoon, just a few hours after the hearing. It appears the auction was secretive.
The next course of action will be on Wednesday. The debtor’s attorney will present to the judge what it feels is the “highest and best bid,” and then the judge will agree or disagree with that.
The highest is easy to determine.
The “best” bid is a bit harder to define, taking into account issues such as the ability to back up the bid financially and what is best for the animals who call Marineland home.
It’s clear that Apex — the group of dolphin professionals — will aim to maintain the 6-acre property as a dolphin park.
However, the other two bidders have not announced plans for the property if either of them wins. Granted, both are developers.
