Park City Mountain Resort Loses Lease After Costly Error

Law360, New York (May 22, 2014, 9:51 PM EDT) -- A Utah court on Wednesday ruled in favor of the landlord of the state's popular Park City Mountain Resort saying it failed to renew its lease for much of the land under the resort's ski areas, allowing the landlord to search for a new tenant.

Park City Mountain Resort's owner Powdr Corp. mistakenly failed to send a letter by the deadline in March 2011 to renew its lease for another 20 years, allowing the lease dating back to the 1970s to lapse, according to the court's decision.

Utah trial court Judge Ryan M. Harris ruled on eight motions, siding mostly with...

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