Sno Mountain Obtains Bankruptcy Court Approval to Begin Marketing the Sale of the Company

The United States Bankruptcy Court for the Eastern District of Pennsylvania (Case No. 12-19726) has authorized the Trustee in the case to seek bids for the sale of the assets of Sno Mountain.  The Scranton, PA ski resort and water park landed in bankruptcy after the filing of an involuntary petition by several petitioning creditors.  The company lists over $24 million in debt.  They hope to be open for business on December 20, 2012 and are making snow to get ready for the season.

WISP SOLD TO EPT SKI PROPERTIES

The United States Bankruptcy Court for the District of Maryland approved the sale of the Wisp Ski Resort in McHenry, MD to EPT Ski Properties on Tuesday for $23.5 million.  The Court also approved the sale of the Lodestone Golf Course to National Land Partners for an additional $5.2 million.  The sale sets the stage for the resort to successfully emerge from bankruptcy under new ownership as the ski season at Wisp is set to begin.

Committee counsel:  Gary H. Leibowitz