Credit Suisse Loses Bid For $229M Of Loan To Resort

Law360, New York (September 8, 2010, 7:45 PM EDT) -- A federal judge has ruled that Credit Suisse Group AG won't be able to recoup more than $229 million on a loan gone bad to Yellowstone Mountain Club LLC, a Montana ski and golf resort development that entered bankruptcy in 2008.

In an order issued Tuesday, Judge Ralph B. Kirscher of the U.S. Bankruptcy Court for the District of Montana said he would not “reward Credit Suisse for its greedy antics” in making a massive $375 million loan to Yellowstone. Much of that loan was essentially...
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