Tamarack Public Auction Postponed

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SAM Magazine--July 16, 2013--According to published reports, a planned public auction at Tamarack Ski and Golf Resort in Idaho has been postponed for at least two months. The primary lender, Credit Suisse, had planned to auction off building materials and other furnishings today, July 15, and the county sheriff's office was going to sell off the unfinished plaza and an incomplete wing of a lodge tomorrow, July 16.

According to the Bellingham Herald, a series of notices were filed on Friday by the creditors in the foreclosure case to hold the auction off until September. Credit Suisse claims it is owed some $340 million, but the bank is behind other creditors with approximately $15 million in liens on resort assets. MHTN Architects holds first position with an estimated $600,000 lien. Whether lenders are still hoping for a buyer to resurrect the resort is unclear.

For more on the history of Tamarack, check out http://www.saminfo.com/news/court-clears-credit-suisse-sell-tamarack-assets.