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Swiss bankers want to liquidate Tamarack

Swiss bankers want to liquidate Tamarack

The Swiss bank that leads lenders owed $300 million by Tamarack Resort now says liquidating the central Idaho vacation getaway is the best way to recoup a fraction of their investment.
Credit Suisse Group asked U.S. Bankruptcy Judge Terry Myers this week to set the stage for the final sale of Tamarack assets, either under a U.S. trustee or a state court judge's supervision.
The Zurich-based bank's move is an about-face from its failed bid last month to lend $2 million to help Tamarack find a buyer.
On Wednesday morning, Myers' court scheduled hearings in Boise for early December to consider the request.
Credit Suisse lawyers told him, "Liquidation of the debtor's assets is the only reasonable course for this case."
Tamarack owner Jean-Pierre Boespflug, trying desperately to arrange a sale, couldn't immediately be reached.


Updated : 2021-05-18 00:51 GMT+08:00