Md. Ski Resort Wins Extension In Bankruptcy Court
GREENBELT, Md. (AP) — The owners of Maryland’s only ski resort have won more time to come up with a bankruptcy reorganization plan.
The U.S. Bankruptcy Court in Greenbelt entered an order Thursday granting Wisp resort owner D.C. Development LLC a one-month extension to Sept. 10. The plan would have been due Friday.
The owners had requested a two-month extension.
They said in a filing last month that they’re talking with two potential buyers of the resort in the western Maryland community of McHenry. The filing didn’t identify those parties.
The Wisp owners filed for Chapter 11 bankruptcy protection in October.
They blame their financial problems on the collapse of the real-estate market. They say they couldn’t sell enough home sites at a nearby golf course to make their loan payments.
(Copyright 2012 by The Associated Press. All Rights Reserved.)