Yellowstone Club Bankruptcy Reorganization Overturned
This article is for subscribers only.
Part of Yellowstone Club’s bankruptcy reorganization was overturned by a judge because the ski resort for millionaires settled a lawsuit against Credit Suisse Group AG without giving creditors a chance to object.
In an order issued yesterday, U.S. District Judge Sam E. Haddon in Butte, Montana, invalidated the settlement and sent it back to a bankruptcy judge for reconsideration. That settlement ended court battles among Credit Suisse, lower-ranking creditors and CrossHarbor Capital Partners LLC, the Boston-based private-equity firm that bought the resort out of bankruptcy.