Nearly two weeks after a judge threw the Tamarack case out of bankruptcy court, owner Jean-Pierre Boespflug hopes a judge might reverse his decision.
While Boespflug wouldn’t comment on whether or not he would ask U.S. Bankruptcy Judge Terry Myers to reconsider his decision, and move the case back to Chapter 11 status, he said his team is actively working on the case.
On Jan. 11, Myers dismissed the case from federal court, sending it back to state court where foreclosure proceedings may lead to a sheriff’s sale, according to the Associated Press.
Lawyers for Credit Suisse had asked Myers to convert Tamarack’s case into Chapter 7 liquidation or send it back to state court to begin foreclosure. They argue Boespflug had proven himself incapable of managing the property or of finding a buyer.
Previously, Boespflug said keeping the case in Chapter 11 protection offered the clearest and easiest path for disposing of Tamarack’s assets as a whole while paying at least some money to creditors, including a lender consortium led by Credit Suisse Group that is owed more than $350 million combined.
Meanwhile, Boise general contractor Scott Hedrick is also involved in litigation to recover payment for construction that was completed at the Donnelly resort before work was halted in 2009. While his case was moving through the federal court, its status has also changed.
“We had a trial scheduled in federal court for one of our units, but we got an email that the trial has been canceled, and everything goes back to state court,” Hedrick said. “We have to wait and see what happens next.”