Court: Montana Can Pursue Blixseth Bankruptcy
BILLINGS, Mont. (AP) - An appeals court has resurrected a bid by the state of Montana to force ultra-luxury resort founder Tim Blixseth into bankruptcy and make him cough up $57 million in alleged back taxes.
A three-judge panel of the 9th U.S. Circuit Court of Appeals overruled a lower court ruling Monday and said Nevada is the proper venue. Blixseth is believed to have most of his assets in a Nevada-based trust.
The ruling comes on the heels of a Dec. 5 order that Blixseth pay $41 million to creditors from the Yellowstone Club, the private ski resort he founded near Big Sky.
Blixseth diverted most of a $375 million loan to the club for his personal use before it went bankrupt in 2008.
The state says that money counts as taxable income.
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