The Dolphin Company Corrects False Claims by Former Management

Mexican court records do not support the claims made by the former CEO, and the independent director and Chief Restructuring Officer of the Dolphin Company remain in control of the company under the laws of Mexico and under the Chapter 11 process in the United States.

WILMINGTON, Del., July 26, 2026 /PRNewswire/ -- The duly authorized leadership recognized by the courts of Mexico and the United States Bankruptcy Court for the District of Delaware today issued the following statement in response to a press release claiming to be from the company but circulated by former CEO Eduardo de Martín Albor Villanueva and others claiming to speak for the Company:

The recent press release issued by former management is false and misleading, and its unauthorized issuance violates several orders of the United States Bankruptcy Court. No Mexican court has overturned the March 2025 change in leadership of The Dolphin Company. Steven Strom, the Company's Independent Director, and Robert Wagstaff, the Company's Chief Restructuring Officer, remain the duly authorized representatives of the Company and continue to lead the Company through its restructuring process.

Any suggestions to the contrary are simply false. In plain terms, there is no Mexican insolvency proceeding supervising the restructuring of any of the entities comprising The Dolphin Company.  Mr. Albor's actions in connection with seeking to initiate a Mexican insolvency proceeding have become the subject of criminal proceedings pending against Mr. Albor in Mexico, which proceedings remain ongoing.    

Former management's statement also ignores another critical fact: precautionary measures issued by a Mexico City civil court on April 4, 2025 continue to prohibit Mr. Albor from holding himself out as, or acting as, a representative of the Company.

The Company will not allow inaccurate public statements to distract from its work. The Company remains focused on completing its Chapter 11 restructuring, protecting the welfare of its animals, supporting its employees, and preserving value for stakeholders.

"The record is clear: former management has not been reinstated. There is no Mexican Supreme Court ruling that says otherwise, and The Dolphin Company's authorized leadership remains in place," said Steven Strom, Independent Director of The Dolphin Company, and Robert Wagstaff, Chief Restructuring Officer. "We remain focused on the responsible restructuring of the Company and on the employees and animals who depend on its continued operations." Any attempts by former management to reinstate itself or hold itself out as being in control of The Dolphin Company are a violation of the laws of Mexico and the United States.

The Company reserves all rights with respect to any false or misleading statements made by former management or by persons purporting to act on the Company's behalf without authority.

ABOUT THE DOLPHIN COMPANY 

The Dolphin Company is an aquatic park operator with a global presence, operating 30 parks and dolphin habitats in 8 countries, focusing on interactive experiences with marine mammals and promoting environmental stewardship through education and conservation efforts.

Leisure Investments Holdings LLC is the parent company of The Dolphin Company who are in Chapter 11 bankruptcy in Delaware. Additional information about the Chapter 11 filing, including court documents, can be found at (https://www.veritaglobal.net/dolphinco); or by calling 888-733-1434 (U.S./Canada) or 310-751-2633 (International).

SOURCE Leisure Investments Holdings LLC, et al. (The Dolphin Company)