The already chaotic bankruptcy case of Dolphin Company, parent corporation to Gulf World, has taken an unprecedented turn after court documents revealed an alleged armed standoff between former CEO Eduardo Albor and debtors’ restructuring officials in Cancun.
According to the filing, which was submitted last week, Albor’s team allegedly denied access to the company’s Mexican headquarters, prompting Chief Restructuring Officer Robert Wagstaff and his team from “Riveron Management Services” to seek court intervention. However, the situation escalated when Albor returned with a group of 20 armed individuals, reportedly dressed as state police officers, who forcibly retook possession of the building.
Albor’s counsel released preliminary statements earlier this week, disputing the claims and presenting an alternative narrative. They claimed that debtors’ officials had forcibly taken control of the headquarters before being removed by legitimate state police under a court order issued in Mexico. The documents also suggested that the debtors had been trespassing on the building due to a Mexican court’s ruling that they lacked authority to access it.
Local bankruptcy lawyers expressed shock at the latest turn of events, highlighting the complexity of jurisdiction issues in international cases. Bankruptcy Attorney Michael Wynn pointed out that the Concurso Mercantil court in Mexico had taken precautionary measures to protect the company’s Mexican entities on January 28, nearly two months before the Delaware court filing.
Wynn warned that the standoff could have serious consequences for Gulf World and other affected entities worldwide. He emphasized that state agencies, such as the Florida Fish and Wildlife Conservation Commission (FWC) or the United States Department of Agriculture (USDA), possess inherent power to intervene in cases involving marine animals and may be able to bypass the automatic stay to ensure their protection.
An emergency hearing had been scheduled for Tuesday morning before Albor’s counsel released their preliminary statements. Given the new jurisdiction battle, Wynn predicted that the hearing would likely play out differently than originally intended.
As the situation unfolds, concerns remain about the welfare of animals caught in the midst of this international legal crossfire.
Source: My Panhandle
