Just days after U.S. Bankruptcy Judge Terry Myers ruled that Bank of America could retake possession of two Tamarack ski lifts, it’s unclear when a decision will be made about the resort’s bankruptcy status.
Myers is expected to rule any day about whether the Donnelly resort should continue with Chapter 11 bankruptcy, or move to 7 proceedings which would allow a trustee to liquidate it. On Dec. 6 and 7, he heard testimony from Tamarack owner Jean-Pierre Boespflug about why the resort is more valuable as a whole, rather than sold off in pieces.
Dr. Michael Carey said the Tamarack Municipal Association, which is comprised of homeowners, said everyone remains optimistic about Tamarack’s future.
“We are not currently using those lifts,” Carey said. “There is a tremendous amount of complexity surrounding Tamarack and a lot of negotiating with all involved parties.”
Carey said the ski season, which kicked off Dec. 20, has met all budgetary goals so far and “proceeded without any hiccups.”
“The mood has been great up here among both homeowners and visitors,” he said.
In December, Boespflug named Eagle-based Green Valley Holdings his preferred buyer for Tamarack. However, objections were raised by Credit Suisse about the $40 million cash offer. Any final decision about any potential buyers must be approved by Judge Myers.