BILLINGS, Mont. (AP) — Former billionaire Tim Blixseth said he will pursue court sanctions against the Montana Department of Revenue after a federal judge tossed a bankruptcy petition the state filed against him seeking $57 million in alleged unpaid taxes.
The petition could have forced the founder of Montana’s ultra-exclusive Yellowstone Club to liquidate his assets if it had been successful.
But the case was dismissed Wednesday by U.S. Bankruptcy Judge Bruce Markell in Nevada because Blixseth has no assets in the state, his attorneys said.
“They took a shot at me and it was a bad-faith bankruptcy filing,” Blixseth said. “We are going to depose everyone in the food chain that filed this.”
He added that the petition was a “desperate move” to derail pending litigation related to the Yellowstone Club’s 2008 bankruptcy and a separate lawsuit Blixseth is pursuing against Credit Suisse. The latter case involves a $375 loan the banking industry giant made to the club in 2005.
Representatives for the Montana Department of Revenue did not immediately return calls from The Associated Press seeking comment.
Blixseth, 60, is a resident of Washington state. Last month, he paid $1.9 million in back taxes to California and Idaho to get them to withdraw as
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