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September 30, 2016

Judge orders ex-billionaire to pay creditors $286M

  • In a trial set to begin next week in Seattle, creditors will try to prove that Timothy Blixseth tried to shield a jet, two yachts and a mansion by turning them over to his wife and mother-in-law.
    • By MATTHEW BROWN
    Associated Press

    BILLINGS, Mont. — A U.S. judge has ordered a former luxury real estate mogul to pay $286 million to the creditors of a Montana club for the ultrarich that he is accused of fleecing for personal gain before driving it into bankruptcy.

    The order Wednesday from U.S. Bankruptcy Judge Ralph Kirscher is the latest turn in a yearslong hunt for assets of Timothy Blixseth, the founder of the Yellowstone Club, a private ski and golf resort near Big Sky with an elite group of members including Microsoft co-founder Bill Gates.


     
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