A US judge affirmed an earlier ruling that found former real estate mogul Timothy Blixseth culpable in the bankruptcy of the luxury ski and golf resort Yellowstone Club, ordering him to pay $286 million in damages.
US Bankruptcy Judge Ralph Kirscher found Blixseth guilty of diverting funds from the private club before handing it over to his wife as part of a divorce settlement, shortly after which it went bankrupt.
Blixseth told reporters in an email exchange that he has no comment about the ruling. He is currently representing himself, as his lawyers have withdrawn from the case. He said in a recent court filing that Credit Suisse is as culpable for the bankruptcy as he is for enticing him into taking out a reckless loan, with which he binge bought yachts, jets, and luxury properties across the globe.
Judge Kirshcer affirmed the claim in a 2010 promulgation in which he reduced the judgement to $41 million, which was reversed by the Ninth Circuit Court of Appeals.
Yellowstone Club has since emerged from bankruptcy after being taken over by new managers.
