Park City Mountain Resort and Talisker Land Holidings, LLC don't see eye to eye on much these days, and they definitely don't agree on how much bond PCMR should post in order to stay on the contested land. The two are embroiled in an ongoing lease battle that has much of Park City fearing that PCMR may not even be able to open this season. Now, we know that Talisker wants a bond set at $123.9 million if PCMR is going to continue leasing the land for the 2014-2014 ski season while it appeals the case in the Utah Supreme Court. PCMR, on the other hand, valued the bond amount between a measly $1.02 million and $6.56 million. So what happens next?
Observers assumed that the bond amounts from each side would be drastically different, but a $100 million gap is a lot. It will now be up to the Third District Court presiding over the case to determine the amount of the bond. In previous rulings, Judge Ryan Harris has sided with Vail/Talisker, saying that PCMR failed to renew its lease on time. Instead of ruling on the bond amount yesterday, the Judge has scheduled a new hearing for September 3.
While the Judge thinks long and hard on what to do, PCMR and Talisker are still in mediation with the hope that maybe they can come to an agreement to settle the case. The Judge ordered the two sides into mediation weeks ago, and now the deadline for mediation is this Friday.
Mediation has been extended two times, providing much needed hope that a deal could be in the works. Can Park City's ski season be saved? Fingers crossed, Curbediverse.
· PCMR and Talisker bond estimates vary by more than $100 million [Park Record]
· Judge delays decision on Park City Mountain Resort's ski season [Fox 13]
· Could PCMR & Vail Resorts Be Close to Making a Deal? [Curbed Ski]
· PCMR Delays Woodward Park City Talks, Everyone Wonders What It Means For Lawsuit [Curbed Ski]
· PCMR Threatens Catastrophe, Outlines Lift Dismantling [Curbed Ski]
· All PCMR-Talisker Coverage [Curbed Ski]