Ushering in a new era for the Yellowstone Mountain Club, Sam Byrne's Boston-based Crossharbor Capital has won control of Big Sky, Montana's Yellowstone Club with a bid of $115 million.
Judge Ralph Kirscher ok'd the bid, which includes Sam Byrne's commitment to inject up to $75 million into the Club, with $19 million dedicated to pay unsecured creditors, most of whom are regional business owners.
The Yellowstone Club is a private 13,600 acre ski and golf community in Big Sky, MT.
0 comments • www.TaunyaFagan.com Bozeman Montana Real Estate: Homes - Land - Ranches • May 19 2009 08:53AMOn 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 • www.TaunyaFagan.com Bozeman Montana Real Estate: Homes - Land - Ranches • May 13 2009 10:16AMContent © 2009 'Frequent Contributors'. Design © 2009 ActiveRain Corp.
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