February 5, 2009 2/6/2009 9:10:00 AM
Montana Resort, Playground of Bill Gates, Files for Bankruptcy
Partially Developed Playground of the Ultrarich for Sale
Montana resort, The Yellowstone Club, that counts Bill Gates among its members, filed for bankruptcy protection — and could be sold to a Boston firm.
A deal contingent upon bankruptcy court approval, would allow the 14,000-acre property to be sold to an affiliate of CrossHarbor Capital Partners for $100 million.
According to the Associated Press the partially delveloped Yellowstone Club fell more than $400 million in debt in 2008. The club sits near Yellowstone National Park and has 340 members, including Dan Quayle and Bill Gates. Those privildeged club members are reported to have opposed any plans that would risk their gated mountain retreat.
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