The Dolphin Company's current management has proposed selling its main Mexican assets and parks to Grupo Xcaret subsidiary Delphinus Blue Planet for $20 million, a deal that would give the buyer control of more than 90% of dolphin habitats in Mexico and create an unprecedented tourism monopoly. The proposal, filed in the U.S. Bankruptcy Court for the District of Delaware, was signed by Rodrigo Constandse for Delphinus and Steven Strom as representative of financial creditors Prudential Financial, The Cigna Group, and Sculptor Equity Management, with CiBanco acting as collateral agent despite being in liquidation over money-laundering charges. The transaction violates a final, unappealable ruling by the Mexican Supreme Court that prohibits the sale of corporate assets without explicit judicial authorization, and it seeks to preempt a pending U.S. court decision on the legitimacy of the current management. Eduardo Albor, founder and representative of the original management, called the sale part of an illegal effort to seize control and strip the company of its core assets.
Cigna Corp
Prudential Financial, Inc.