A Vanderburgh County Judge ruled Dan Koch improperly used stock value. Once that ruling came down, Dan who was serving as president was terminated.
Holiday World declined to talk on camera but tells us a lawsuit was filed due to stock value disagreements after Will Koch died.
Earlier this week Matt Ecker was named president of the nation's oldest theme park.
Vanderburgh County court documents show Dan Koch took out almost nine hundred thousand dollars in loans and bonuses for himself, and according to the judge's ruling, improperly used the Koch's family stock.
But for those living in Santa Claus, some say the legal battle doesn't mean much. "Other people are saying its not going to change any, most people are still mainly running it, its just the head person is gone, everything is still the same, that's how Robert Somerlott feels, he works down the street from Holiday World. "I think everything is going to be the same, nothing is really going to change, it don't affect me none" Somerlott says.
The Koch family is a known name around town, especially to Keith Hoffman, "Patricia Koch, the grandmother, I carpooled in kindergarten with her, she was one of the drivers so that's how far back we go."
Since the park remains under family ownership, many say that's all that matters. "Its a lot cleaner and a lot more personable, of course I grew up with all these people" Hoffman says. Holiday World will open in May to kickoff it's 2013 season. Dan Koch is appealing the judge's ruling in this civil suit, which also gave Lori Koch majority ownership. Our calls to many members of the Koch family have yet to be returned.