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 In Bankruptcy, Bankruptcy In The News, Blog, Chapter 7 Bankruptcy

According to the petition filed in Nevada, the real estate mogul owes nearly $2.3 billion in Montana, Idaho and California. The billionaire became famous when he created the Yellowstone Club, an ultra-exclusive club set in Montana. However, it filed for bankruptcy in 2008, right after Blixseth reportedly came away with $286 million in profits.

Part of those “profits” could be from the unpaid taxes that Blixseth reportedly owes, but denies owing, in Montana. In fact, he told the Associated Press that the claims against him were “bogus” and he intended to fight them tooth and nail.

Forbes magazine once estimated that Blixseth was worth $1.3 billion; recent court documents show that that figure has decreased significantly to just $230 million.

Are you in danger of financial failure? Contact the Malaise Law Firm to discuss tour situation with a San Antonio bankruptcy lawyer.