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Judge orders Bitterroot Resort sold for $23M to repay debts

August 18, 2011 /

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Bear Paw Development Corporation is a private non-profit organization created for the purpose of administering programs to help improve regional economic conditions in Hill, Blaine, Liberty, Chouteau and Phillips Counties and the Fort Belknap and Rocky Boy's Indian Reservations.

The historic Maclay Ranch in Lolo, once set for a controversial transformation into a high-end ski resort, will meet its end at a sheriff’s sale to settle a debt of more than $23 million.

Missoula County District Court Judge Ed McLean ordered the foreclosure on behalf of Metropolitan Life Insurance Co. Asset Holdings last month, which holds the mortgages on the 3,000-acre ranch.

By GWEN FLORIO of the Missoulian

Full Story: http://missoulian.com/news/local/article_ad7c4732-c9ec-11e0-a079-001cc4c03286.html

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