Yellowstone Mountain Club Bankruptcy Takes Another Turn

A U.S. District Court Judge ordered Yellowstone Mountain Club’s founder, Timothy Blixseth, to pay at least $13.8 million for defying a court order with the sale of a Mexico resort property included in the Montana ski resort’s bankruptcy.  Yellowstone filed Chapter 11 in November 2008 with assets including 13,600 acres located 20 miles from Yellowstone National Park valued at approximately $778 million.  Blixseth was accused of misappropriating $286 million of the ski resort’s funds from a $375 million loan from Credit Suisse.