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CEO says Tamarack has 'visibility' to season's end

02:05 PM MDT on Wednesday, October 8, 2008

Associated Press

DONNELLY -- Tamarack Chief Executive Officer Jean-Pierre Boespflug sent the troubled resort's homeowners a weekend letter reassuring them it's safe to book lodging, buy season ski passes and plan vacations.

In the letter obtained by The Associated Press Monday, Boespflug told homeowners that investment bank Credit Suisse's commitment to fund resort operations if bankers are allowed to take over provides "visibility to the end of the season."

Credit Suisse wants a federal judge to dismiss bankruptcy cases protecting the owners of the resort, a decision that could lead to the bank gaining control.

(Related: Judge to rule on Tamarack bankruptcy in two weeks)

A ruling is expected by Oct. 16.

Also in the letter, Boespflug told homeowners that talks with a potential buyer for Tamarack are "on track," with an agreement still expected by month's end.

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