Homeowners Try To Prevent BofA Leasing From Removing Ski Lifts



According to an Associated Press report, Tamarack Municipal Association homeowners are fighting to prevent Banc of America Leasing (BALC) from removing two Tamarack Resort ski lifts after receiving the OK from an Idaho bankruptcy court judge to repossess the lifts that were leased to the resort.

According to the AP report, the homeowners helped scuttle a plan by a Canadian ski resort company to buy the lifts from BALC and remove them. The group has secured an appeal on July 14 in Valley County as they try to force a public hearing on the bank’s latest plan.

AP said an attorney for the homeowners says he’ll be vigilant to make sure BALC doesn’t remove the transports without proper local and federal permits. The Idaho State Department of Lands is processing documentation from bankers and must sign off on the removal because a portion of the lifts are on state endowment land.

As reported on monitordaily earlier this year, BALC said it is owed $4.6 million, which includes unpaid rents, accrued interest and attorney fees. According to court documents, BALC estimated the value of the leased equipment to be between $1.5 million and $2.0 million, excluding an estimated $492,000 in removal and transportation costs.

A creditor group led by Credit Suisse has been trying to recover more than $300 million in unpaid debts since the troubled vacation destination filed for bankruptcy protection in early 2010.


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