Edra blixseth bankruptcy

Former billionaire Edra Blixseth took over the club with its private ski hill in the mountains of southwest Montana last August, as part of her divorce from Tim Blixseth. The move caps a dramatic fall for Blixseth, who beginning in the late s worked with her former husband to carve the ritzy club out of 13, acres in the Madison Mountains.

Just a few years ago, the club stood as a symbol of the nation's monetary excesses.

Edra blixseth bankruptcy: In , U.S. Bankruptcy Judge Ralph

But a series of questionable loans taken out by the Blixseths beginning in set the resort up for financial disaster. She also accused Tim Blixseth and his associates of running an "orchestrated campaign to discredit my good name" since she took control of the club. Tim Blixseth contends the club was in good financial shape when he turned it over to Edra as part of their divorce settlement.

One of his attorneys, Michael Flynn, on Friday criticized what he described as Edra's decision to seek a "prepackaged bankruptcy" for the club last November. He said that "effectively killed the Yellowstone Club and ten years of blood, sweat and tears of Mr. Blixseth to build it. That acre estate in Rancho Mirage has a championship golf course, a main house and at least one guest house.

She also owns a multimillion-dollar golf resort in Scotland and the castle in France. Edra Blixseth appears to have been pushed to seek bankruptcy protection by the mounting legal and financial pressures she has faced in recent weeks.