Yellowstone Mountain Club creditor appeals plan confirmation

By Jennifer Lanning Drey

Portland, Ore., June 12 - Yellowstone Mountain Club, LLC creditor Desert Ranch, LLLP appealed the approval of the company's plan of reorganization in the 9th District Circuit Court, according to a Thursday filing with the U.S. Bankruptcy Court for the District of Montana.

As previously reported, Yellowstone's plan of reorganization was approved by the bankruptcy court June 2.

The plan calls for the continued operation and development of the company's project through the issuance of 100% of the membership interest in the reorganized Yellowstone in exchange for payment of at least $30 million in cash by a successful bidder and payments on a $70 million secured promissory note payable by the reorganized company or its successor.

Located in Big Sky, Mont., Yellowstone Club is a 13,400-acre private club in the Rocky Mountains. It filed for bankruptcy on Nov. 10, 2008. Its Chapter 11 case number is 08-61570.

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