Flickr: Helena, Montana looking East from Roberts Street | Helena is the capital city of the U.S. state of Montana | https://commons.wikimedia.org/wiki/File:Helena,_Montana_looking_East_from_Roberts_Street.jpg | Creative Commons Attribution-Share Alike 2.0 Generic license. | https://creativecommons.org/licenses/by-sa/2.0/deed.en
In Helena, Montana, a U.S. bankruptcy judge supported the court’s decision regarding the state of Montana not being able to file an involuntary bankruptcy petition against Tim Blixseth, co-founder of Yellowstone Club, over ten years ago.
The Yellowstone club filed for bankruptcy in 2008 and Blixseth was accused of pocketing 375 million dollars in Credit Suisse Loans. After an audit had been conducted, it was found that Blixseth owed $56.8 million in taxes, penalties, and interest arising from several audit issues.
Blixseth maintains that the state did not uphold the law.
On June 3, 2021, a Nevada Judge, Mike N. Nakagawa, confirmed the ruling to dismiss the involuntary petition, noting it had lingered for ten years. The case was then referred to bankruptcy court to determine if it should be dismissed.