Credit Crisis Forces Posh Yellowstone Club Into Ch. 11

Law360, New York (November 11, 2008, 12:00 AM EST) -- The Yellowstone Club, a private ski and golf community in Montana for the super rich, filed for Chapter 11 bankruptcy protection Monday after it was unable to secure a new financing arrangement.

According to court documents in the U.S. Bankruptcy Court for the District of Montana, the club owes more than $320 million to Credit Suisse Group and its other creditors. However, the club also has obtained a $4.5 million loan from Credit Suisse that will allow it to continue operating during the winter ski season....
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