Yellowstone Club Seeks Court Sanctions from Montana Dept. of Revenue

The owner of the exclusive Yellowstone Club, Tim Blixseth, will seek court sanctions from the Montana department of revenue.

The department just lost a bankruptcy petition against Blixseth to the tune of $57 million. It alleged that he had unpaid taxes in the state of Montana. If the bankruptcy petition had been successful, Blixseth would have been forced to liquefy his assets to pay the $57 million. However, the petition was dismissed in the District of Nevada U.S. Bankruptcy Court this week.

Blixseth's latest financial venture, the Yellowstone Club, filed for Chapter 11 bankruptcy protection back in 2008; he still has a pending $40 million civil judgement from that filing. The Associated Press reported that Blixseth was funded by a Credit Suisse Loan to build the club, but also used the funds to support his lavish lifestyle.

As for the sanction, Blixseth said: "We are going to depose everyone in the food chain that filed this [...] They took a shot at me and it was a bad-faith bankruptcy filing."

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