by fans of the Highest Bidder
Early this week – we should know just “who” won the Auction for the Cordillera Golf Club Bankruptcy Case/Auction.
Reported to the ECT last last week were (3) alleged bidders…
local Alpine Bank
(photo – Sunset over Cordillera last week)
ECT has been told Alpine Bank will likely bid what they are currently owned on their loan (~$13.2 Million) to the Wilhelm Family Partnership, plus their legal fees, plus interest accrued since the WFP defaulted on their loan…at the end of June 2012.
ECT has no clue where David Wilhelm will get the money to outbid Alpine – since he was unable to pay the balance of his loan back to Alpine at the end of June 2012.
This week (10-14DEC2012) we should know who the declared winner is – once the Bankruptcy Judge declares a winner.