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Bankruptcy Sale Of Maryland's Only Ski Resort Approved

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The Wisp ski resort in Garrett County will now be under new ownership.
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The Wisp ski resort in Garrett County will now be under new ownership.

A bankruptcy court judge has approved the sale of Maryland's only ski resort for more than $23 million.

Earlier this week, a judge in Greenbelt  approved the sale of the Wisp resort to EPT Ski Properties. The judge also approved the sale of a golf course and other land to National Land Partners for $6.1 million.

The resort filed for Chapter 11 bankruptcy protection in 2011 after defaulting on nearly $30 million in loans it had received from BB&T Corp. of Winston-Salem, N.C., to build a golf course community near the ski hill. Home sites in the Lodestone golf-course development didn't sell as well as expected.

Formal closing dates for the sales are expected in December.

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