Owner of Defunct Lion Park to Emerge From Bankruptcy

IRVINE — The owner of the now-defunct Lion Country Safari, which won a $42-million jury award last month against its landlord, the Irvine Co., said Wednesday that it has received preliminary approval to emerge from bankruptcy proceedings.

United Leisure Corp. hopes to receive final approval at a Wednesday U.S. Bankruptcy Court hearing, said Harry Shuster, its president.

As a major creditor, the Irvine Co. did not object to United Leisure’s petition to emerge from bankruptcy, said Peter Zeughauser, the Irvine Co.’s vice president and general counsel.

In return, United Leisure agreed not to try to collect the award by filing a lien against the Irvine Co.’s properties until a judge rules on post-trial motions, Zeughauser said. The lien would have been a business nuisance for the Irvine Co., he said.

The Orange County Superior Court jury found that the Irvine Co. undermined the animal park’s ability to do business by thwarting it from developing 300 acres it had leased. The Irvine Co. will either ask for a new trial or appeal, the lawyer said.