SAM Magazine-Boise, Idaho, Mar. 14, 2008-Investment bank Credit Suisse is suing Tamarack Resort, claiming the resort has failed to repay $262 million in debt and interest. The company is asking the court to foreclose on the property an award it to Credit Suisse; in anticipation of just such a move, Tamarack filed for Chapter 11 bankruptcy protection a few weeks ago.

New West magazine reports that, in a statement, Tamarack CEO Jean-Pierre Boespflug said the bankruptcy filing will give the resort time to "either refinance, add a partner with additional financing, or sell the resort to a suitable buyer capable of managing the asset with the continued interest of the community in mind." This was the first time that the sale of the resort has been mentioned as one possible outcome of Tamarack's current liquidity crisis.

Resort operations will continue, public relations representative Jessica Flynn said, though services could be cut back in the off-peak winter and summer seasons.

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