Spanish Peaks Resort To Be Sold In Bankruptcy

Law360, New York (October 17, 2011, 5:39 PM EDT) -- Owners of the 5,700-acre club at Spanish Peaks resort in Montana put the property on the auction block Friday as part of an effort to liquidate via its Chapter 7 bankruptcy, just days after shutting down operations and laying off staff.

Spanish Peaks Holdings II LLC listed assets of up to $50 million and debts as high as $500 million in its bankruptcy filing in Delaware. Thomas J. Francella of Whiteford Taylor & Preston LLP, an attorney for the company, declined to comment Monday.

The private...
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