Downhill: Gated ski resort in Utah hits bankruptcy

Downhill: Gated ski resort in Utah hits bankruptcy

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SALT LAKE CITY (AP) -- A bankruptcy battle has broken out at the idled Elk Meadows ski area, where developers couldn't raise enough money to build an exclusive gated community in the mountains above Beaver.

The Utah-based developers, Mount Holly Partners LLC, sought voluntary Chapter 11 protection July 9.

A week later, Mount Holly's partners, New York City-based MHU Holdings LLC, countered with a petition saying the developers weren't authorized to file for bankruptcy without their consent.

A hearing is set for Aug. 8 in U.S. Bankruptcy Court in Salt Lake City.

A fight over control of the 1,800-acre Mount Holly Club already has produced one lawsuit and a countersuit in New York. That dispute between the main players is headed for arbitration hearings in September.


Information from: The Salt Lake Tribune

(Copyright 2009 by The Associated Press. All Rights Reserved.)

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