Steve Baker, president of the park’s new owners, said it just offered the new owners a chance to more quickly to make-over the park. Of course, HRP Creative believes that the judge’s ruling means the party’s will have to work out some licensing agreement at least for this year, but I think the road ahead will be troubling for the park’s founders. You see, the founder’s have now shown that there’s money that could be made by the licensing of the intellectual property rights of the former park. I foresee a possible action by the Chapter 7 Trustee or the creditors of HRP Myrtle Beach Holdings for fraudulent conveyance of those IP rights from HRP Myrtle Beach Holdings to HRP Creative.
This case will be given credence if it can be shown that Mr. Goodwin was the decision-making executive for both entities at the time of the transfer. Stay tuned to this one.
And more from Greg Van Gompel: