NY Appeals Court Wipes Out Ski Resort Contract Battle

Law360, New York (February 16, 2012, 10:23 PM EST) -- A New York appeals court dismissed a suit Thursday alleging four European banks crippled a massive Colorado ski resort development when they stopped doling out money they had agreed to lend under a $520 million deal, finding the developer couldn't win money damages under its contract.

The appeals court found that the limitation of remedies provision in the parties' loan agreement clearly and unambiguously barred Base Village Owner LLC, an affiliate of real estate developer The Related Cos. LP, from winning money damages if it thought...
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