Bidding planned for July 15 and 16 will be postponed until at least September for the troubled resort, which opened a decade ago but defaulted on a $250 million construction loan from Credit Suisse in 2008. In addition to smaller items like bath tubs and an elevator car, two big-ticket items intended for auction include the unfinished Village Plaza and an incomplete wing of the golf course lodge.
The public auction of assets and unfinished properties at the failed Tamarack (Idaho) Resort has been delayed, the Associated Press reported.
A series of notices filed late last week by creditors postponed bidding planned for July 15 and 16 at the resort, until at least September, the AP reported.
On the first day of the auction, lender Credit Suisse intended to sell off bath tubs, an elevator car, electrical wiring and other items leftover since construction at the resort halted five years ago, the AP reported.
On the second day, the Valley County Sheriff’s Office was poised to auction off two big-ticket items: the unfinished Village Plaza and an incomplete wing of the golf course lodge, the AP reported.
Developers opened Tamarack a decade ago but ran into financial struggles in 2008 and ultimately defaulted on a $250 million construction loan from Credit Suisse, the AP reported.
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