Yellowstone Club Founder Dodges Bankruptcy PetitionMay 20, 2011 – In The News
Nevada Bankruptcy Judge Bruce A. Markell ruled that Nevada was the improper venue for Montana's involuntary bankruptcy petition against the co-founder of bankrupt Yellowstone Mountain Club LLC, Timothy Blixseth.
The involuntary petition was filed over Blixseth's alleged unpaid taxes by Montana, California and Idaho. California and Idaho settled their claims separately. Montana claims Blixseth owed $219,258 in unpaid taxes.
"Because the principal asset is inchoate in nature, it makes logical sense that its location is determined by the location of its holder, Mr. Blixseth," who lives in Washington state, according to Blixseth attorney Brett Axelrod.
A trial for Blixseth's bid for sanctions is scheduled for September, Axelrod said.