The only major piece of litigation still pending against the company that leases the Queen Mary has been dismissed, opening the door for a potentially snag-free sale of the lease this summer, Long Beach Post-Telegram.
In a writing ruling filed Monday, U.S. Bankruptcy Court Judge Vincent Zurzolo granted summary judgment in favor of Queen’s Seaport Development Inc., which declared bankruptcy two years ago amid a laundry list of legal and financial problems.
The litigation centered on whether QSDI’s minority shareholder, Bandero LLC, had paid $1 million for the right to develop the land around the Queen Mary.
It had been the only major issue left unresolved after a bankruptcy trustee, Howard Ehrenberg, took over QSDI last year and began negotiating settlements with the company’s many creditors.