SAM Magazine--August 27, 2009--According to published reports, and Idaho judge dismissed Bank of America's bid to take possession of two lifts, a snow plow, a shuttle bus and a Mack truck (all estimated to be worth $4.3 million) from Tamarack Resort. The judge ruled that the request should be part of a separate litigation by another bank.

The beleaguered ski area owes an equally beleaguered Credit Suisse more than $300 million, which will be hashed out during a March 2010 foreclosure trial. The judge did not want the assets to be broken off in pieces before the trial and Credit Suisse has argued that the lifts are fixed assets.

However, Bank of America's leasing unit stands to lose millions as Tamarack misses its monthly payments on the equipment.

Currently, the area is closed, but the golf course will remain open through October. In the meantime, real estate owners at the resort have funded some maintenance and security.

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