Operations at the Golf Club at Vistoso, Oro Valley, Ariz., have been handed over to a court-appointed receiver, California-based Touchstone Golf, L.L.C., reports The Explorer, a newspaper covering Marana, Oro Valley and Northwest Tucson.
Pima County Superior Court Judge Virginia C. Kelly named Touchstone receiver after Vistoso failed to pay on an $8 million loan since July of 2009. As of October, the unpaid amount of the loan totals $3.5 million, according to court documents.
Stephen Harker, president of Touchstone Golf, said any changes to the club would be minimal during the receivership period.
Touchstone operates 18 courses, eight of which are bank-owned like Vistoso. The company will operate the course and restaurant at least until March 11, when a trustee sale of the property is scheduled.
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