Tamarack Resort owners file Chapter 11 bankruptcy

By Caroline Salls

Pittsburgh, Feb. 20 - Tamarack Resort majority owners VPG Investments, Inc. and Cross Atlantic Real Estate LLC filed Chapter 11 bankruptcy on Feb. 15 in the U.S. Bankruptcy Court for the District of Idaho.

According to court documents, VPG has $29.21 million in assets and $301.41 million in debt.

The company's largest unsecured creditors include:

• Credit Suisse Cayman Islands, Los Angeles, with a $262 million claim for guaranty of debt collateralized by an ownership interest in Tamarack Resort, LLC, owner of real property in Valley County, Idaho;

• Rotorwing, Houston, with a $4.1 million unsecured loan claim;

• Scott G. Findley, c/o Hopkins Loan Services, Meridian, Idaho, with a $3.2 million claim; and

• Controladora de Empresas, Mexico, with a $2.06 million unsecured loan claim.

Tamarack is a Boise, Idaho, all-season ski, golf and lake resort. VPG's Chapter 11 case number is 08-00253, and Cross Atlantic's case number is 08-00249.

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