With fortune at stake, billionaire Blixseth stands ground against attack from creditors

Blixseth stands ground in attack from creditors

MISSOULA, Mont. — Yellowstone Club founder Tim Blixseth is unrepentantly on the attack as lawyers argue over who knew what — and when — during the financial collapse of the ultra-exclusive alpine getaway.

Nearly $300 million of Blixseth’s personal fortune is at stake in one of the biggest bankruptcy proceedings to roll through Montana.

Credit Suisse is accused of “lining its pockets” with fees by pushing a $375 million loan the club had no hope of repaying. Blixseth is charged with taking $286 million of the loan for his own use even as he knew the club’s bankruptcy loomed.

Blixseth said in bankruptcy court Thursday that Credit Suisse promised him he would have no personal obligation if the club took the loan.

He says “it’s sneaky” to force repayment in the wake of the club’s bankruptcy.