Yellowstone Club Creditors Paid Back in Full

Posted By: The Ski Channel on August 21, 2009 12:30 pm

The Yellowstone Club, a resort for super rich folk near Big Sky, Montana was involved in the most complex bankruptcy suit in Montana’s history. Finally, all the creditors are getting paid back in full. The Yellowstone Club golf and ski resort was founded in 1999 by Tim and Edra Blixseth. Last August, the couple divorced due to financial and legal disagreements and Edra Blixseth took over management of the resort. But the resort couldn’t avoid bankruptcy after its debts topped $400 million. Whoa. Instead of spending the money they were given on the resort, the Blixseths spent most of it buying jets and mansions in France and California. Edra has been told by the courts to sell her homes, cars, art collection and other assets to pay her remaining debts of $357 million. She has appealed. Really Edra? Really? We’ll be interested to see how this debacle plays out.