Colorado court rules against Okemo owners

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(Host) A district court judge has ruled against the owners of Okemo Mountain Resort in their attempt to force the sale of the Steamboat Ski Area in Colorado. Tim and Diane Mueller are the owners of Okemo and are part of an investment group called Triple Peaks, which was trying to buy the Colorado resort from American Skiing Company.

American Skiing pulled out of the deal on the day it was to go through. Triple Peaks sued, saying the terms of the sale did not allow a breach of contract. Tim Mueller said he hadn’t seen the details of the court decision, which came out late in the day on New Year’s Eve:

(Mueller) “We’ll have to review the decision and review all the options we have, whether we appeal or drop it or do something else. But we’re still very much involved here at Okemo, needless to say, and have future plans already for Okemo. We already, we’ve done the first phase of a major expansion here this year and we’ll continue with that for the next three to five years.”

(Host) The Colorado District judge who ruled on the case said the language of the agreement was clear and unambiguous. He found that the remedies for Triple Peaks for the failed deal are limited to $500,000.

The Muellers own the Okemo resort and operate the Mount Sunapee resort in New Hampshire. American Skiing Company owns Killington and Mount Snow resorts in Vermont as well as five others around the country.

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