Universal Orlando Resort Expansion (Part 1)

[Happytycho]

It appears that at least the afternoon hearing was cancelled, and maybe the morning one as well.
There is now a hearing scheduled for 10:00 tomorrow, but we don't know what it is about.

 

[Magic-Man]

It appears that at least the afternoon hearing was cancelled, and maybe the morning one as well.
There is now a hearing scheduled for 10:00 tomorrow, but we don't know what it is about.

Was it cancelled because of the rain, or something else?

 

[Magic-Man]

This is kinda interesting.

 

[Mike S]

This is kinda interesting.

Isn’t the guy dead?

 

[AlexanderMBush]

This is kinda interesting.

I get the vibe this is going to be handled how the later books from "The Girl" series (Dragon Tattoo, Hornets Nest, E.T.C.), to where while it is Tolkien's work, someone else is taking the mantle of writing the rest of the original "Fall of Gondolin" that J.R.R. wrote.

Was it cancelled because of the rain, or something else?

I would doubt the meeting would be canceled to weather, as one would think it'd be inside. I would assume it'd have to do with the clients in this court case having something caught up on one of their ends.

 

[Magic-Man]

Universal Studios adding major new attractions to its Orlando theme park | WFTV

Jesus. It seems like everyone is trying to get in on this.

 

[AlexanderMBush]

Universal Studios adding major new attractions to its Orlando theme park | WFTV

Jesus. It seems like everyone is trying to get in on this.

They got that information from Theme Park University so take it with some salt..

 

[happy bunny rabbit]

“In an arms race with Walt Disney World, Channel 9 news anchor Jamie Holmes has discovered, not only is Universal opening a fourth theme park, but a Pokémon park is also coming soon!” :bs:

 

[UniversalRBLX]

“In an arms race with Walt Disney World, Channel 9 news anchor Jamie Holmes has discovered, not only is Universal opening a fourth theme park, but a Pokémon park is also coming soon!” :bs:

I always say to listen to websites like IU and never the media in regards to theme parks. Always bothered me when they would say “Avatar Park” or “Simpson’s theme Park”

 

[fryoj]

The olympics take place in Beijing in 2022. This has the backing of the party. NBC is broadcasting the Olympics in Beijing. Trust me, Universal and the Chinese government will advertise the heck out of the park and everyone will know of its existence

Universal advertises the WWoHP constantly on tv and yet people still go to WDW and ask where Harry Potter Land is. The Beijing park will not be a blip in the US GP's radar.

 

[zg44]

Based on everything I know about these types of legal cases, I don't think a settlement is in the cards anymore. For whatever reason, stubbornness, pride, etc., it really doesn't sound like there will be any serious negotiations to settle this matter.

The most obvious reason why I say this is because I highly suspect that Universal is the "stalking horse" behind the foreclosure lawsuit. That doesn't mean there won't be a settlement (I'd welcome being wrong about this as someone that would like to see the next resort open asap in Orlando), but I just don't see it.

Universal's incentive right now is to get the most valuable parcels out of Stan Thomas' portfolio so that the remainder is only valuable to Universal, and Stan Thomas' incentive right now is to try to actually get the judge to rule that Universal can't build a theme park, so that he can get a fat payoff.

There's really no middle ground here in my opinion until after the judge issues a ruling on the actual issue of whether Universal can build and once the foreclosure is handled.

 

[Teebin]

It appears that at least the afternoon hearing was cancelled, and maybe the morning one as well.
There is now a hearing scheduled for 10:00 tomorrow, but we don't know what it is about.

How did you know this so quickly?

 

[happy bunny rabbit]

How did you know this so quickly?

he IS Stan Thomas! :afraid:

 

[Universal 4 Life]

he IS Stan Thomas! :afraid:

And Einhorn is Finkle, Finkle is Einhorn.

 

[Happytycho]

Based on everything I know about these types of legal cases, I don't think a settlement is in the cards anymore. For whatever reason, stubbornness, pride, etc., it really doesn't sound like there will be any serious negotiations to settle this matter.

The most obvious reason why I say this is because I highly suspect that Universal is the "stalking horse" behind the foreclosure lawsuit. That doesn't mean there won't be a settlement (I'd welcome being wrong about this as someone that would like to see the next resort open asap in Orlando), but I just don't see it.

Universal's incentive right now is to get the most valuable parcels out of Stan Thomas' portfolio so that the remainder is only valuable to Universal, and Stan Thomas' incentive right now is to try to actually get the judge to rule that Universal can't build a theme park, so that he can get a fat payoff.

There's really no middle ground here in my opinion until after the judge issues a ruling on the actual issue of whether Universal can build and once the foreclosure is handled.

It's really hard to say whether or not universal has anything to do with the foreclosure case because there is no clear connection between them and the financial group doing the foreclosing.

I'm pretty sure that the foreclosure parcels are the only valuable ones. If Stan loses those then the rest only has value to universal. My concern is that he may wait to do a deal on any of the other land/rights until after the foreclosure happens because a bidding war on the foreclosure land would allow him to increase his asking price for everything else he owns in the area.

How did you know this so quickly?

I checked the orange county court records website.

 

[zg44]

It's really hard to say whether or not universal has anything to do with the foreclosure case because there is no clear connection between them and the financial group doing the foreclosing.

I'm pretty sure that the foreclosure parcels are the only valuable ones. If Stan loses those then the rest only has value to universal. My concern is that he may wait to do a deal on any of the other land/rights until after the foreclosure happens because a bidding war on the foreclosure land would allow him to increase his asking price for everything else he owns in the area.


I checked the orange county court records website.

Yeah, I'm just basing this off the previous 474 acre package when it was mentioned that Colony Capital had already held discussions with buyers before their auction and such.

Generally, debt holders can do that before they take foreclosure action if they want to be sure they'll get their money back from foreclosure instead of restructuring the debt.

Given the nature of these parcels (the largest 3 integrating perfectly with the Universal parcels), it would make sense that they contacted Universal before the foreclosure.

 

[Alicia]

Best acknowledgement that Universal has made of the new park so far: Universal references new Orlando theme park in lawsuit - Orlando Sentinel

From the story, (bold emphasis mine):

The company said it wouldn’t disclose its plans for the property, adding this is “...not a case that has any relevance to figuring out what we're doing behind the scenes regarding the plans for a theme park, which is obviously super, super secret commercial information.”

Universal argued that Thomas no longer has any right to reject a theme park because he didn’t speak up until the lawsuit was filed in October 2016; he responded that didn’t mean he was allowing the “construction of a theme park on the property through silence.”

Thomas’ suit may be close to settling; a hearing in the case was canceled at the last minute on Tuesday at the request of both parties. Universal could argue that the lawsuit is only about the right to build a theme park, and not about any specific plan for one, but the company hasn’t responded to multiple requests for more details.

On Wednesday, Universal's lead attorney in the case, Michael J. Beaudine told the judge that "two large theme parks" could be developed on the SLRC-owned land, according to a report in Growth Spotter.
​

The article goes on to quote the recent WFTV article as evidence of Universal's future plans. And when asked for comment, a Universal spokesman said that the company never comments on rumor or speculation.

 

[Brian G.]

It’s been settled.

Per the Sentinel:

An attorney for Thomas, Allison Turnbull, confirmed the suit had settled but declined to provide details. “We’re very pleased that the parties have amicably resolved this matter,” she said.

 

[Magic-Man]

It’s been settled.

Per the Sentinel:

An attorney for Thomas, Allison Turnbull, confirmed the suit had settled but declined to provide details

 

[AlexanderMBush]

It’s been settled.

Per the Sentinel:

An attorney for Thomas, Allison Turnbull, confirmed the suit had settled but declined to provide details. “We’re very pleased that the parties have amicably resolved this matter,” she said.