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Judge Shuts Down Idaho Resort's Ch. 11 Case

Law360 (January 11, 2011, 7:48 PM EST) -- A bankruptcy judge has tossed the Tamarack Resort LLC Chapter 11 case following lender Credit Suisse Group AG's argument that the Idaho resort mismanaged its assets and failed to turn the business around.

Judge Terry L. Myers granted the motion to dismiss Tamarack's Chapter 11 case on Tuesday in the U.S. Bankruptcy Court for the District of Idaho, agreeing with the creditor that the resort had no way to reorganize and turn its operating losses into profit.

The foreclosure proceedings initiated by creditors in Idaho state...
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