Northland's in-receivership Zion Wildlife Gardens, which owes Rabobank NZ$2.7 million, is being bought by a company named Zion Wildlife Kingdom Ltd, which will use controversial "Lion Man" Craig Busch to help operate the park.

Receiver PwC said today both the business and assets of the park near Whangarei, which has big cats including lions, tigers, cheetahs and a leopard, have been sold. PwC Partners Colin McCloy and David Bridgman said they understood Busch has been engaged to assist with operating the park where the big cats are set to remain.

Companies Office records list Tauranga domiciled Tracey Beth McVerry as both the sole director and sole shareholder of Zion Wildlife Kingdom.

Zion Wildlife Gardens was opened in 2002 by Craig Busch, star of TV series Lion Man. It was taken over by his mother Patricia in 2006 after she raised money to pay off the park's debts. Craig Busch left the park in 2008. Zion also hit the headlines in 2009 when keeper Dalu Mncube was mauled to death at the park by an endangered white tiger with the animal subsequently put down.

Rabobank, normally a rural lending specialist, is the first ranking secured creditor owed NZ$2.7 million. Patricia Busch is second ranking creditor and owed NZ$292,251. See more here.

He said details of the sale were commercially sensitive meaning PwC wouldn't comment on them. Staff have been given notice and stood down from work on full pay, he said, with Zion Wildlife Kingdom to staff the park from here.

“Following due consideration of the expressions of interest in the assets and operations of the company, an offer has been accepted which the receivers believe provides good value and is the best option to preserve the operation of the park and protect the welfare of the animals," added McCloy.