Banks' Actions Crippled Colo. Ski Resort, NY Judge Hears

Law360, New York (January 26, 2012, 6:57 PM EST) -- An attorney for an affiliate of The Related Cos. LP told a New York state appeals court Thursday that four European banks had crippled a massive Colorado ski resort development when they stopped doling out money they agreed to lend under a $520 million deal.

The dispute stems from a complex agreement to develop a new base village in the ski town of Snowmass, Colo., with condominiums, hotels and retail space.

Base Village Owner LLC, an affiliate of real estate developer Related, borrowed some $520 million...
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