BILLINGS, Mont. — A U.S. bankruptcy judge is stopping the new owners of the Yellowstone Club from buying a key piece of property within the exclusive, millionaires-only ski resort.
Cycling star Greg LeMond had objected to the deal. He is one of the club’s original members, and his family holds a $13.5 million lien on the Montana property. His attorneys say the sale is being rushed through without giving others a chance to make an offer.
CrossHarbor Capital Partners of Boston bought the resort last year for $115 million. The sale didn’t include a 160-acre compound owned by the club’s bankrupt former owner, Edra Blixseth.
That property was once valued at $56 million. But in October, CrossHarbor reached a tentative deal to buy it for $8.5 million.
In a ruling Monday, Judge Ralph Kirscher said Blixseth’s trustee must seek better offers.
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