A court decision is moving the Tamarack Resort foreclosure in Valley County closer to resolution, but it will still be some time before properties go on the auction block.
District Judge Patrick Owen granted motions by contractors who worked on the resort before it failed, allowing them to submit judgments and decrees of foreclosure.
In dispute are several pieces, including the unfinished Village Plaza, a wing of the Lodge at Osprey Meadows, and the site for what was proposed to be a luxury hotel.
In 2006, the Credit Suisse Group loaned Tamarack owners $250 million. In March 2008, Credit Suisse filed to foreclose on the loans after the owners missed payments.
Owen ruled that Tri-State Electric, OZ Architects, MHTN Architects and Banner/Sabey had construction lien interests in the $91 million Village Plaza that were senior to Credit Suisse.
The ruling says Credit Suisse can no longer slow down those other lien claimants, says Stephen Lord, attorney for the Tamarack Municipal Association: All it does it give a little bit more momentum for those other creditors ahead of Credit Suisse on various parts of the property to get that much closer to conduct a sheriffs sale.
Lord adds: They still cant get there yet, because they still dont have final decrees and judgments of foreclosure.
Dan Gallagher for The Star-News, McCall