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Lehman Brothers To Take Over Moonlight Basin

Image courtesy of Moonlight Basin's website
Image courtesy of Moonlight Basin's website

Lehman Brothers will take ownership of Moonlight Basin under a plan the bank and resort submitted Friday to U.S. bankruptcy court, which calls for Lehman to supply funds sufficient to satisfy claims of Moonlight's administrative creditors and provide recovery for the Montana resort’s unsecured creditors.

“This agreement further ensures Moonlight will remain financially stable, with continued long-term operations,” said Russ McElyea, Moonlight CEO said in a statement. “This agreement will deliver a positive outcome for our employees, vendors, guests, and for the community as a whole.”