Judge Agrees to Yellowstone Club Loan

By Beacon Staff

BILLINGS – A federal judge says he will approve a $20 million financing plan for the exclusive Yellowstone Club — money that will keep the resort open through winter while it struggles to settle $399 million in debts.

The residential club for the ultrarich, which boasts its own ski hill on 13,600 acres near Yellowstone National Park, filed for bankruptcy protection last month following months of financial turmoil.

The loan from Boston-based CrossHarbor Capital buys the club several months to come up with a new business plan. In the interim, U.S. Bankruptcy Judge Ralph Kirscher will hold a January hearing to probe why the club has not pursued repayment of $275 million in loans to its founders, Tim and Edra Blixseth.