September 22, 2009

Foreclosure Proceedings Begin Against Moonlight Basin

Montana ski resort enters foreclosure

Foreclosure proceedings have officially begun against Moonlight Basin. The Montana ski resort, which is located near Big Sky Resort, has been the subject of foreclosure rumors for months. Now, though, it is finally happening. As First Tracks Online Ski Magazine reports, the move has come after failed attempts to renegotiate loan terms:

Cash flow has been restricted since financial difficulties at Lehman Brothers put a crimp on the resort's liquidity in 2008. The foreclosure proceeding was filed after talks to renegotiate the loan repayment terms failed earlier this summer.

In spite of the foreclosure, it appears as though some lifts will still be open at Moonlight Basin. The lifts going up the north side of Lone Peak should run this ski season.


	Learn About Big Sky Ski Resort
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	http://skiresortmarkets.com/public/item/218123

by Ski Resort Markets

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