We have previously reported that a New York lender, Midtown Acquisitions, filed a major lawsuit in Third District Court against Canadian businessman Jack Bistricer, and half-a-dozen of his companies affiliated with the Talisker name.
We asked county development director Pat Putt if that has had an impact on development at the Canyons Resort.
Putt said he had to be careful, because his knowledge of the situation is limited. But he said what he understood.
“There was a suit filed and it related to loans that allegedly had been defaulted on for the Tuhaye area out in Wasatch County. I think some of the questions that we've been asked is will this affect the parcels or the land holdings within the Canyons? Were those properties used as collateral for the Tuhaye loan? My understanding is that is not the case. That the Canyons properties were not part of the collateral that was used and that being the case are not affected by this particular lawsuit. So, right now I do not believe that any of the developments that are underway or any of the developments that may be in the wings in the Canyon would be affected by that. The work being done on the roads, any of the walkability improvements, none of those appear to be affected by this particular case.”