VALPARAISO | A legal dispute has surfaced between the two owners of the Splash Down Dunes Water Park in Porter.

Fred Pearson filed suit this week asking the courts to appoint someone to take over the management of the park and to order co-owner Paul Childress not to interfere.

Pearson said he, in turn, would lend the money needed to reopen the park for the upcoming summer season and will settle all debts.

Childress was contacted by telephone Friday, but declined comment on the pending litigation.

Pearson's attorney, Gordon Etzler, was also unavailable for comment.

The lawsuit spells out several areas of debt and expenses involving Childress and says that due to a contentious divorce proceeding, neither Childress nor his wife is willing to let the other have say over the operations of the park for the upcoming season.

"If the park is not prepared and opened for the 2007 season, the value of the park will be dramatically reduced ... " the suit says.

The suit goes on to say that Childress does not have the financial resources to pay Pearson, other creditors or the 85 seasonal employees.

The water park is located at the northeast corner of U.S. 20 and Waverly Road.