credit suisse: Yellowstone Club Bankruptcy Ruling: Judge Kirschner Rebukes Credit Suisse
- 05/13/09 03:16 AM
On Tuesday, May 12, 2009, according to an article in NewWest.net, U.S. Bankruptcy Court Judge Ralph B. Kirscher declared, "that Credit Suisse actions in making a $375 million loan to the Yellowstone Club were "so far overreaching and self-serving that they shocked the conscience of this court," U.S. Bankruptcy Court Judge Ralph B. Kirscher on Tuesday ruled that Credit Suisse's secured claim to $232 million of the remaining $310 million loan balance would be "subordinated" to the claims of tradesmen, vendors and other unsecured creditors in the case." … (2 comments)
credit suisse: Big Sky, Montana: Short-Term Financing at Yellowstone Club Through Spring 2009
- 12/02/08 07:56 AM
From Moonlight Basin Ski Area to the private Yellowstone Club Resort, most of the Big Sky, Montana ski resorts concerns have been fixed for the winter and it's snowing here in southwest Montana. The skis are sharp, the bodies are willing, and 2-4 inches of snow are forecast for this evening; Big Sky's skiing and snowboarding season is here. Even the Yellowstone Club is back in business, which means work through the winter for its many employees. Because of a Loan by Boston's CrossHarbor Capital of $20 Million, the Yellowstone Club in Big Sky, Montana will survive winter 2008-2009. Bankruptcy Judge for the District of Montana, Ralph B. Kirscher, Esquire, approved short-term … (0 comments)
credit suisse: Geometric Strategy at The Yellowstone Club, Big Sky, Montana
- 11/26/08 09:55 AM
Two financial entities are battling for control of Big Sky, Montana's Yellowstone Club, which boasts memberships by some of the world's wealthiest... Both Credit Suisse and CrossHarbor Capital with financial help offered by some Club members, are battling for control of Edra Blixseth's bankrupt Big Sky, Montana Yellowstone Mountain Club: Credit Suisse, failing in its attempt to setup a seven-figure loan plan, argues that because it's owed over $300M by the Club it should maintain control and is trying to block a financing deal from Boston-based CrossHarbor Capital, which has offered $20 million to maintain the club through the winter skiing and snowboarding season. Some Club members, … (0 comments)
On Tuesday, May 12, 2009, according to an article in NewWest.net, U.S. Bankruptcy Court Judge Ralph B. Kirscher declared, "that Credit Suisse actions in making a $375 million loan to the Yellowstone Club were "so far overreaching and self-serving that they shocked the conscience of this court," U.S. Bankruptcy Court Judge Ralph B. Kirscher on Tuesday ruled that Credit Suisse's secured claim to $232 million of the remaining $310 million loan balance would be "subordinated" to the claims of tradesmen, vendors and other unsecured creditors in the case."
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