Big Sky and southwest Montana real estate professional. Resort specialist for Big Sky Resort, Moonlight Basin, Spanish Peaks and The Yellowstone Club. Primary focus on resort, ranch, land and second homes properties.
Big Sky Montana Real Estate is for the person who wants a piece of "The Last Best Place"
The Biggest Skiing in America
Home to the Biggest Skiing in America, Big Sky Resort and Moonlight Basin provide 5,500 acres of skiable terrain, more than anywhere else in the United States. Also home to the #1 Nordic Ski center in North America, with 80 km of groomed ski trails, Big Sky holds a bounty of unparalleled winter recreation. Coupled with a trip to Yellowstone, a try at dogsledding, or a sleighride dinner, and you have the perfect winter experience.
Breaking News 11-18-09
Moonlight Files for Bankruptcy
Letter from Lee Poole to home owners:
You are a valued member of our Moonlight Basin family and, as promised, I want to inform you of the most recent developments regarding Moonlight Basin. Below you will find the press release that we have issued tonight:
Ennis, Montana – November 18, 2009 – Moonlight Basin Ranch L.P. today announced that the company and its subsidiaries filed voluntary petitions in U.S. Bankruptcy Court for the District of Montana for reorganization under Chapter 11 of the U.S. Bankruptcy Code.
"This was a necessary decision brought on by Lehman Brothers’ actions, including its recent effort to foreclose on Moonlight Basin Resort and the uncertain future of the Resort resulting from Lehman Brothers’ actions," said Russ McElyea, COO. "We decided that it is in the best interest of the Moonlight Basin family, including our creditors, employees, customers, suppliers, home owners, and the Montana communities in which Moonlight Basin operates, to reorganize under Chapter 11."
Moonlight Basin concluded that Bankruptcy Court protection was necessary as a result of Lehman Brothers’ decision to foreclose on an outstanding loan, and its threats to cease critical funding, rather than work with Moonlight Basin to appropriately restructure its debt contrary to its prior representations to Moonlight Basin. Chapter 11 protection will enable Moonlight Basin to conduct its business operations as usual while it develops a long term reorganization plan. With the bankruptcy filing, the foreclosure action brought by Lehman Brothers against Moonlight Basin is automatically stayed while the reorganization goes forward.
Moonlight Basin’s staff, which consists of over 250 seasonal and year round employees, are excited about the upcoming ski season. This year, Moonlight Basin is part of a community wide effort to promote Big Sky, Montana and the Biggest Skiing in America. The Moonlight Basin and Big Sky Resort interconnect ticket provides access to over 5,500 acres of terrain. Moonlight Basin is excited to offer a collection of new events and programs for the season, including a Freeride Team, new SnowSports programs and expanded terrain park. In addition, Moonlight Basin is proud to encourage academic achievement in our local community through our legendary M-BAR-T program, which rewards scholastic achievement with free skiing at Moonlight Basin. Each of these programs will continue without interruption.
"With this filing, we can assure everyone -- our customers, home owners, suppliers, employees and our communities -- that Moonlight Basin intends to be open for business as usual. We look forward to a successful opening of the ski season at Moonlight Basin on December 12." added Lee Poole, President and CEO. "Our guests can continue to rely on us for our genuine Montana hospitality and our commitment to the land we cherish.”
As explained above, we have taken these steps because we believe it is the best course of action to assure continuation of Moonlight Basin operations this winter and for the long-term sustainability of the company. Our year-round team is continuing to execute all the necessary steps to open the resort on Dec 11 for a special season pass holder’s day and on December 12 for the rest of our guests. We are excited to see you and your family on the mountain soon.
We know you may have additional questions we were unable to answer in this email. As soon as we are able to provide you with an update, we promise to do so. Again I would like to thank all of those individuals who have expressed their support for the Moonlight Basin team. I believe in Moonlight Basin and its purpose. It was created for families like yours to enjoy and it is our team’s conviction to care for and protect the Moonlight Basin community.
Regards, Lee Poole
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John Goan Broker - Big Sky Montana - 406-581-2243 - john@goan.us