The Queen Mary Sails Out Of Bankruptcy Court

Law360, New York (November 9, 2007, 12:00 AM EST) -- Legendary ocean liner the Queen Mary has a new operator, after a $43 million deal for the ship's lease and its surrounding 55 acres finally closed this week.

A group of investors who call themselves “Save the Queen,” led by Orange County, Calif. developer Jeff Klein, will take over the 66-year lease for the ship and develop the adjacent land, which is zoned for hotel, retail, dining and commercial use.

The group bought the lease and property rights from the ship's former operator, Queen's Seaport Development...
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