Zions First National Bank of Utah, a creditor in the Chapter 11 case of West Mountain Ski Center in Queensbury, NY is set to conduct an online auction of the mortgage on Oct. 22, 2013. According to the bankruptcy petition, Zions has a $400,000 claim against the ski center’s owner, East Slope Holdings LP. The mortage still has a $343,375 balance on the original $433,000 loan. The ski center consists of just over 365 acres at 59 West Mountain Road in the town of Queensbury, outside Glens Falls. East Slope Holdings is leasing West Mountain to a group of investors called Apex Capital LLC that intend to re-open the ski center this winter.
NASDAQ.com is reporting that Intrawest Resorts Holdings Inc. filed an IPO today with the the NYSE hoping to raise $100 million from investors. Intrawest operates Mont Tremblant, Stratton, Winter Park, Steamboat, Snowshoe and half of Blue Mountain.
Intrawest intends to use the funds raised in the IPO “for working capital and other general corporate purposes, which may include potential investments in, and acquisitions of, ski and adventure travel businesses and assets.”
On November 10, 2013, Alpine Ski and Snowboard Rentals, Inc. filed chp. 11 bankruptcy in the the Middle District of Pennsylvania. The company lists assets of $100,000 to $500,000 and liabilities of $500,000 to $1,000,000. The has yet to file any other papers disclosing the circumstances which led to the filing, but the Ski Bankrupotcy Monitor will continue to follow the situation.