Bank Objects To Ski Resort’s Bankruptcy Plan

GREENBELT, Md. (AP) — Creditors for Maryland’s only ski resort are objecting to a request by the owners for more time to come up with a bankruptcy reorganization plan.

Wisp resort owner D.C. Development LLC has been talking with two potential buyers of the McHenry site.

In a filing Friday in U.S. Bankruptcy Court in Greenbelt, First Union Bank says the resort owner signed a letter of intent with one group on Sept. 6. But the bank says it has serious doubts about the plan.

First Union says it wants to continue negotiating with another group with a competing proposal. The filing didn’t identify the competing parties.

In a statement Saturday, Wisp’s owners said they are negotiating with a buyer to keep the resort open and will identify the group once negotiations are finished.

(Copyright 2012 by The Associated Press. All Rights Reserved.)


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