Friday, January 7, 2011

Judge lifts stay on 2 Tamarack ski lifts

BOISE, Idaho (AP) - A bankruptcy judge has agreed to let Bank of America retake possession of the two ski lifts it owns at Tamarack Resort in central Idaho.

U.S. Bankruptcy Judge Terry Myers lifted the automatic stay imposed on the lifts as part of the resort's pending bankruptcy case.

Tamarack began operating a scaled back ski season last month using three chair lifts and two surface lifts, none of which are owned by Bank of America.

Tamarack majority owner Jean-Pierre Boespflug wanted to keep the bank from taking possession of the lifts to keep the resort whole and more appealing to buyers.

Last month, Boespflug received a $40 million offer from Idaho investment group Green Valley Holdings to buy the resort.

The judge's order enables Bank of America to negotiate the sale of the lifts to potential buyers.

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