Resort for super-rich files for bankruptcy

Wednesday, 12 November 2008 17:55
Get out the world's tiniest violins: An exclusive ski and golf community in the US has filed for bankruptcy protection.

Montana's exclusive Yellowstone Club, which is near the national park of the same name, is part resort and part residential community for the super-rich.

It advertises housing lots on the sides of its ski slopes and golf course at prices ranging from $2-6m (€1.6-4.8m).

AdvertisementIn a filing made in federal bankruptcy court in Montana this week, Yellowstone Mountain Club LLC filed for Chapter 11 bankruptcy protection, listing assets and liabilities in the range of $100-500m (€80-400m).

The filing was signed by owner and developer Edra Blixseth, who started the business in 2000 along with former husband Tim Blixseth.

The company, which plans to carry on doing business, asked for an expedited hearing so it can secure financing.

What a shame boo hoo