Lenders To Get Green Light to Pursue Sheriff's Sale of Tamarack


While homeowners at Tamarack Resort say they're still planning for another ski season when the snow flies, the Associated Press reports that lenders are set to move forward with a sheriff's auction of the resort's assets.

The lenders, led by Credit Suisse Group, are owed up to $300 million from the bankrupt Valley County resort. The AP reports that a sheriff's sale could be concluded within 60 days.

In June, Bank of America repossessed the Wildwood high-speed chairlift after failing to come to an agreement with homeowners, who have been trying to maintain ski seasons in the shadow of the resort's failure.

Meanwhile, an indicted Eagle money manager, accused of bilking investors as part of a $40 million scheme to buy Tamarack, was ordered to back away from the resort and not to solicit investors pending his trial of misappropriating funds to remodel his home.