Disney Files Financing Statement Related to Company Involved in Morocco’s Restaurants in EPCOT
Although some of the restaurants at the Morocco pavilion in EPCOT were open when we first visited EPCOT after the reopening, Tangerine Cafe has since closed.
Morocco Pavilion
Now, the story surrounding the Morocco pavilion continues to develop.
Just today, Disney filed a State of Florida Uniform Commercial Code Financing Statement Form involving Marrakesh Moroccan Restaurant, LLC. You can find this by searching through the Orange County public records.
Financing Statement
The statement identifies Marrakesh Moroccan Restaurant, LLC as the debtor and Walt Disney Parks and Resorts U.S., Inc. as the secured party.
Tangierine Cafe Closed
According to Florida Jurisprudence, a secondary legal resource, “[t]he objective of filing a financing statement is to give notice of the existence of the creditor’s security interest in the described collateral.” In other words, if a person or company has a security interest in certain property that has been pledged as collateral as part of a certain arrangement, then a financing statement may be filed, provided all of the appropriate requirements are met, to give notice of the secured party’s interest in the collateral.
Morocco Pavilion in EPCOT
This financing statement filed by Disney indicates that it covers collateral including “All goods, inventory, the Furnishings, and all other items of personal property belonging to Debtor which are or may be put into the Facilities and all proceeds of the foregoing.”
Tangerine Cafe Sign
It appears that Disney and Marrakesh Moroccan Restaurant, LLC made some kind of agreement whereby an obligation or debt that Marrakesh owes to Disney was secured by their goods, inventory, and other personal property and Disney was granted a security interest in that collateral. Now, Disney has filed this financing statement to provide notice of its security interest in these items, which may be turned to for recourse if Marrakesh is unable to pay the debt it owes to Disney.
Morocco Pavilion
It’s unclear exactly what arrangement has granted this security interest to Disney, but we’ll keep searching the public records and elsewhere to see if we can find any more information.
Click here to read about Morocco’s festival booth at the 2020 Taste of EPCOT International Food & Wine Festival
Have you ever eaten at one of the restaurants in the Morocco pavilion? Let us know in the comments!
from the disney food blog https://ift.tt/3bId6wv
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