Lehman Brothers Closes Deal on Big Sky Resort

Property.com > Resources > News > Lehman Brothers Closes Deal on Big Sky Resort
By Jason Franklin
Saturday January 28th, 10:30 AM

The estate of Lehman Brothers Holdings Inc. has announced the closing of a deal that will give them full control over the Moonlight Basin Ranch, a ski and gold resort in Big Sky, Montana. 

Currently under bankruptcy protection, after filing in 2009, the move is said to be expected. The resort opened in 2005, and secured a $100 million credit agreement with Lehman Brothers Holding. The deal releases Moonlight Basin Ranch LP from Chapter 11 bankruptcy.

The resort, which will remain managed by the same team, employs over 250 year-round and seasonal workers, and attracts visitors from all over, with the allure of challenging slopes and a posh 18-hole golf course.
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