An investment partnership led CrossHarbor Capital Partners, LLC, a leading national real estate investment, and consists of a large group of members of the Club of Yellowstone and the Discovery Land Company LLC, today announced that it has to acquire the interests of justice in the new Yellowstone Club (Club). In association with Discovery Land Company and managed CrossHarbor
Development of the private sector, the World Ski and Golf.
"We are pleased that we have the Yellowstone Club for us to lead, the administration and the professional development of the necessary knowledge to ensure its long-term success," said Byrne Saturday, director and co-founder of CrossHarbor Capital Partners. "Today the club is obvious, after the Chapter 11, and capitalized companies to obtain and for its first condition for the granting of club members, employees and the Big Sky. With a strong business plan, the moment we are convinced that the club have a good future. "
Mike Meldman Discovery Land Company, said: "This is an important milestone for Yellowstone Club. Above all, we thank the members of the Association and the staff who worked tirelessly over the past nine months to put into practice. This is the beginning of a new chapter in the history of the Yellowstone Club, and look forward to working closely with CrossHarbor, all employees and the Big Sky. "
As previously announced, on 9 November 2008, the Yellowstone Club trademark of reorganization under Chapter 11 of the U.S. Bankruptcy Code U.S. Bankruptcy Court in the district of Montana (ECHR). Chapter 11 in the context of the restructuring plan by the Court on 3 June 2009, 15 million U.S. Dollar fund is managed by CrossHarbor to the payment of premises and other creditors of the club, and it is expected that on the application for all or nearly all of the creditors are paid in their entirety. The designation of beneficiaries of the goodwill of creditors and of reconciliation and distribution of funds, which with care, so that payments can be as soon as possible.
It is envisaged that most if not all, that these payments are made in the next 30 to 60 days.
Duane Morris LLP, Goulston and Storrs, PC, Crowley, and Fleck PLLP
served as legal advisor to the CrossHarbor and Goldman, Sachs & Co. acted as financial advisor.
About CrossHarbor
CrossHarbor Capital Partners is a leading alternative investments mainly specializes in real estate and securities are in trouble and private equity.
About Discovery Land Company
Discovery Land Company is one of the largest private club and the community of developers in North America, after having success with 16 private luxury Kuki clubs in the big island of Hawaii, El Dorado, Los Cabos, Mexico, the Madison Club La Quinta, California and Baker's Bay in the Abaco Islands of the Bahamas.
Over Yellowstone Club
Location in Big Sky, Montana, Yellowstone Club, the only ski and golf community, is limited to approximately 14,000 private acres near the northwestern corner of Yellowstone National Park. Founded in 2000, Yellowstone Club is limited to only 864 residential properties.
No comments:
Post a Comment