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Business & Economy

Judge Sets Bond at $17.5 Million for Park City Mountain Resort

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Pool: Salt Lake Tribune
Third District Judge Ryan Harris

 

A Third District Court judge has set a bond payment that will allow Park City Mountain Resort to continue to operate for the 2014 - 2015 ski season.

Judge Ryan Harris has ruled that Park City Mountain Resort will have to pay a bond in the amount of $17.5 million dollars by next Friday in order for his eviction notice to be stayed. If they can make the payment they will be allowed to stay on the land and operate as normal until April 30, 2015. If a final judgment in the case has still not been reached by that date, PCMR can offer up another bond payment of $19 million dollars to stay for one more year.

This bond is only to stay the eviction notice, and isn’t a final judgment on the total damages PCMR owes Talisker Land Holdings for remaining on the resort land after they failed to renew the lease in 2011.

In an email to KUER, an Attorney for Talisker wrote that they will not be appealing the decision even though the amount is well below what they asked for. 

PCMR's attorney Alan Sullivan says they will take the next week to speak with their clients and determine if they will post the bond. He also says they are hopeful that the resort will open this year.

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