YVSM In The News

By M. Scott Smith, DCSki Editor December 24, 2012 — A downturn in the real estate market forced Wisp Resort to enter Chapter 11 bankruptcy protection in the Fall of 2011, but thanks to a new ownership structure, the Maryland ski area has emerged from bankruptcy and is charging forward. On December 21, 2012, Wisp announced that…

December 21, 2012 1:23 pm By First Tracks!! Online Media McHenry, Maryland — After 14 months in Chapter 11, Wisp Resort has emerged from bankruptcy protection with a new ownership structure and an infusion of capital and experience. Salt Lake City, Utah-based Everbright Pacific, an affiliate of Pacific Group, announced today that it has taken over as…

Posted by Peggi Simmons on Friday, 07 December 2012 in News A bankruptcy court judge in Greenbelt, Maryland, approved the sale of Wisp, the state’s only ski resort, for $23.5 million. The buyer was Entertainment Properties Trust (EPT) Ski Properties. Wisp plans a Dec. 14 opening. The same judge also approved the sale of a golf course and other…

Posted: 10:07 pm Thursday, December 6, 2012 By Associated Press HAGERSTOWN — A bankruptcy court judge has approved the sale of Maryland’s only ski resort to a unit of a Kansas City-based real estate investment trust for $23.5 million. A judge in Greenbelt approved the sale of the Wisp resort to EPT Ski Properties, a unit…

Hotel advisory firm tells work group it is “well-capitalized” and eager to put a Hotel Indigo on Alexandria’s waterfront. As seen in Old Town Alexandria Patch By Sharon McLoone Carr Hospitality this week assured members of the Waterfront Plan Work Group that it is a “well-capitalized” company after allegations were made that the firm was…

Tourist destination near Deep Creek Lake has had financial difficulties in its real estate arm October 17, 2011 By Hanah Cho, The Baltimore Sun The owners of a ski resort near Deep Creek Lake have filed for Chapter 11 bankruptcy law protection while they try to resolve financial difficulties related to another business. D.C. Development…

Western Maryland ski and golf resort files for Chapter 11 by Lindsey Robbins, Staff Writer Maryland’s only ski resort has fallen victim to the collapse of the real estate market, as its owners filed for bankruptcy on Saturday after defaulting on a $23.5 million loan. D.C. Development of McHenry, owner of Wisp Resort in Garrett…

Tue, 03/29/2011 by Lisa Yonka Stevens, Esquire The Advocate, Young Lawyers Section-Maryland State Bar Association, Volume 26, Number 2, Winter 2010 With the downturn in the nation’s economy and a full recovery on the distant horizon, many businesses, as well as individuals, are facing difficult financial situations. Bankruptcy is a system under which persons, individuals,…

Transaction will keep Hotel Monaco Baltimore and B&O American Brasserie open Mon, 03/07/2011 Kimpton Hotels & Restaurants, the management company for the 202-room Hotel Monaco Baltimore and B&O American Brasserie — which have been tenants of the historic B&O Building since 2009 — has agreed to buy the portion of the structure occupied by the hotel…

A U.S. bankruptcy court judge approved a plan by the owner of Baltimore’s Hotel Monaco to liquidate the property. Mon, 03/07/2011 The approval allows Baltimore & Charles Associates, managed by Philadelphia’s Arc Wheeler, to convert the downtown property into three separate parcels and sell them individually. The company spent around $65 million to acquire and…