BOZEMAN – A district judge gave a Bozeman bank permission Wednesday to begin seizing and liquidating property from the Yellowstone Club owner and her son after the pair became delinquent on almost half of a $350,000 loan.
Edra Blixseth and her son Matthew Crocker co-signed on a $350,000 loan from American Bank in 2006, of which $156,000 is now delinquent, according to court documents. Judge Mike Salvagni gave the Gallatin and Madison county sheriffs departments the go ahead to begin seizing the property, which includes computers, office fixtures, blinds and 12 vehicles.
Blixseth’s attorney, Joseph Eisenberg of Los Angeles, declined to comment Wednesday evening.
Crocker, the lead developer of the planned Story Mill project near downtown Bozeman, filed for Chapter 7 bankruptcy Feb. 13. But his company, Gobuild, is not protected by the filing, American Bank attorney Bill Lamdin said.
The items are expected to be seized from the Yellowstone Club near Big Sky, as well as from two of Gobuild’s offices in Bozeman. Lamdin said American Bank also has initiated foreclosure proceedings on the Story Mill property, originally slated to become a 1,200-unit “green” development.
Wednesday’s hearing, which Blixseth and Crocker did not attend despite being summoned, comes the same month as warrants for their arrests were filed in Colorado. The warrants were issued for failing to appear at a hearing to account for a $13 million loan taken out with Denver-based Western Capital Partners, LLC.