Yellowstone Club to Start Paying Debts

By Beacon Staff

BOZEMAN – An attorney working with unsecured creditors of the Yellowstone Club says they should start seeing payments in the next week or so.

Attorney Thomas Beckett says past due wages and debts of less than $5,000 and payments owed contractors who are still working with the club will be paid first. He says larger claims will probably be mailed in the next two weeks.

Federal Bankruptcy Judge Ralph B. Kirscher approved the first round of payments on Wednesday.

The club’s new owner, CrossHarbor Capital Partners purchased the 13,600-acre resort last month for $115 million, plus a cash infusion of up to $75 million and $10 million for improvements. CrossHarbor also promised to quickly pay unsecured creditors.

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