BILLINGS – The new owner of Montana’s ultra-exclusive Yellowstone Club says that about $6 million has been paid to Montana vendors and tradespeople who were owed money by the club.
Sam Byrne, managing partner of CrossHarbor Capital and the new owner of the club, sent the checks last week along with a letter.
In the letter, Byrne says he knows the delay in payment created a significant financial hardship for some, and he hopes the payments will mark the beginning of the club’s efforts to rebuild its reputation.
CrossHarbor purchased the bankrupt 13,600-acre resort in July for $115 million. Under the purchase agreement, the company set up a $7 million fund to ensure most companies and individuals owed by the club would get paid.
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