Ski Town Developer Tries To Ice Part Of $195M Guarantee

Law360, New York (February 28, 2012, 7:44 PM EST) -- An attorney for real estate developer The Related Cos. LP told a New York state judge Tuesday that Related doesn't owe part of a $194.7 million guarantee for a Colorado ski development project because lenders sabotaged its efforts to finish the project.

The dispute involves a complex, failed agreement to develop a new base village in the ski town of Snowmass, Colo., with condominiums, hotels and retail space, according to court documents. Hypo Real Estate Capital Corp. and other banks loaned Related and its affiliates $520...
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