The Tamarack Resort bankruptcy has run out of money for operation so the bankruptcy judge has given the resort to its owners. Credit Suisse Group, which had been funding the operation, has turned off the money spigot.
This creates an unusual situation because the owners are broke and owe Credit Suisse Group $300 million. Speculation is the resort will fall apart and into disrepair as there is no one takes care of the facilities.
In separate litigation Bank of America Corp is attempting to repose two ski lifts it financed.
How do you repo ski lift?
No comments:
Post a Comment