Yellowstone Club Sale Approved; Firm to Pay $115M

By Beacon Staff

BILLINGS – The clerk in the Yellowstone Club bankruptcy case says Judge Ralph Kirscher will issue a ruling confirming the sale of the posh resort as soon as Tuesday.

Court documents show CrossHarbor Capital Partners of Boston — which already was owed tens of millions by the club — intends to pay $35 million in cash and take on $80 million in debt for the 13,600 acre resort.

Kirscher said following a Monday hearing he will approve club owner Edra Blixseth’s plan to sell to CrossHarbor, according to Bankruptcy Court Clerk Bernard McCarthy.

Blixseth developed the club over the last decade with her former husband, Tim Blixseth. A few months after she took over the operation last year, following the couple’s divorce, the club spiraled into bankruptcy with more than $400 million in debts.