Ex-billionaire seeks mediation with legal foes

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Updated: 2/15/2013 2:30 pm

BILLINGS, Mont. (AP) — Embattled ex-billionaire Tim Blixseth is seeking settlement talks to resolve a tangle of lawsuits involving hundreds of millions of dollars in claims arising from the 2008 bankruptcy of Montana's exclusive Yellowstone Club.

Blixseth, who lives in Washington state, faces an outstanding $41 million civil fraud judgment for his handling of the club's finances. He owes $57 million in alleged back taxes, and has numerous other claims against him tied up in court.

Saying there's no end in sight to more than a dozen lawsuits, Blixseth asked U.S. District Judge Sam Haddon to order mediation talks in March.

Participants would include Blixseth, the club's new owners, Montana authorities, banking giant Credit Suisse and others.

The request comes as Montana officials seek to force Blixseth into bankruptcy in federal court in Nevada.

 

©2013 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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