7/31/2023 0 Comments Moonlight basin![]() GH has worked with the Debtor and its management team in streamlining operations, reducing expenses, reviewing capital expenditure programs, developing operating strategies for the lodge operations, enhancing operating profitability of the private golf course, and developing programs to increase skier visits and yield. At filing both debtor and lender requested that GH be named CRO and we were formally retained by the debtor. After protracted negotiations, the incumbent secured lender offered a DIP facility on more favorable terms and the foreclosure procedures were stayed. Getzler Henrich (“GH”) was initially retained to assist the debtor in finding a priming DIP facility, which we did in just 7 days from initial contact with the company. Given the extreme negative market conditions subsequent to funding, Moonlight was in default of the facilities with Lehman initiating foreclosure actions. The company had obtained approximately $160 million of secured and unsecured loans, which were utilized to repay existing debt and shareholders and to fund future development projects. The property includes a 1,900-acre ski area with 85 trails and seven lifts a Jack Nicklaus Signature Golf Course a full-service spa food and beverage outlets multiple retail locations and a variety of real estate products, including homes, condominium units, home sites and estate parcels. The enterprise was established over 15 years ago and to date has sold 340 luxury properties and has invested over $100 million in development and infrastructure. There are currently approximately 1,300 unsold entitlements situated on a uniquely beautiful mountain top setting. ![]() Moonlight Basin, LLP located in Big Sky, Montana, is a full-service ski, spa and golf resort and residential community positioned on over 8,000 acres. ![]()
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