Swiss bank can ask for sheriff's sale of Tamarack

Swiss bank can ask for sheriff's sale of Tamarack

Credit: KTVB

Swiss bank can ask for sheriff's sale of Tamarack

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by Associated Press

KTVB.COM

Posted on September 24, 2012 at 3:51 PM

Updated Tuesday, Nov 12 at 7:54 PM

BOISE -- Lenders led by Credit Suisse Group could quickly ask for a sheriff's sale of Tamarack Resort assets now that an Idaho judge has refused to block their foreclosure case from advancing.

The Swiss bank, whose lender group is owed some $300 million, declined to comment on Monday.

But a Tamarack Municipal Association lawyer says a sheriff's sale could be concluded in about 60 days.

That wouldn't completely unravel Tamarack's tangled finances.

Additional creditors with millions in separate claims to resort assets still need the Idaho Supreme Court's permission before a district court judge can process them.

Meanwhile, one Tamarack ski lift has been removed and homeowners booked a $300,000 loss last ski season. 

Tamarack Municipal Association director Tim Flaherty says his group still plans another ski season, starting this December.

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