The battle over a piece of land in Park City that houses the Park City Mountain Resort looks like it has come to an end, but it may be in the interest of both sides to work with a Salt Lake City asset protections attorney. It started when Powdr Corp. (who operated PCMR) forgot to pay its rent on time (just a couple days late really) and the landlord, Talisker Land Holdings, Inc.wasnt pleased. The resort isnt just any old asset. Nestled in between two slopes the city center, or “Old Town” of Park City, Utah enjoyed access to the mountain from ski lifts directly off main street. A real estate lawyer and business strategist would have seen the value in the healthy competition. Knowing that Vail Resorts would have had their eyes on PCMR since signing to lease The Canyons land for $25 million a year in 2013, it was pretty strange for PCMR executives to have failed to satisfy such a key obligation such as paying rent timely, unless they just wanted to be bought out. But after three years of litigation, Powdr Corp. has sold PCMR to Vail Resorts Inc. for a cool $182.5 million. And because it is such a large amount, the old owners would likely benefit from hiring an asset protection attorney to guide and direct the moves they make with their new money. #saltlakecityassetprotectionattorney #utahrealestatelawyer
Posted on: Fri, 17 Oct 2014 13:37:51 +0000
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