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Officials at Vail Resorts, Inc., hoping to acquire their first Utah resort, say they have spent millions of dollars in legal fees fighting against Talisker Corp. for ownership of The Canyons.
Vail executives claim they had negotiated the right to buy the ski resort before Talisker struck a deal to purchase The Canyons from American Skiing Company, the former owner of the resort. Defendants in Vail's lawsuit include, Talisker Corporation, Talisker Canyons Finance Company, American Skiing Company, The Canyons and Peninsula Advisors.
The seven-day trial is scheduled to begin before Judge Shelley Gilman in Denver District Court July 19, 2010, according to court papers.
A bidding war for the resort ensued about two years ago when American Skiing Company surprised the ski industry by announcing its plans to sell The Canyons to Talisker. Officials at Vail had responded by upping what they claim was a prior offer they had made for the resort, at the outskirts of Park City.
But Vail's offer came too late, ASC officials said, adding that the publicly traded company had already reached an agreement with Talisker.
An official at Talisker Corp. was not immediately available to comment.
As Utah's largest ski area, The Canyons is seen as having tremendous development potential as one of the few remaining mountain villages
in the United States. At issue in the case is whether Talisker conspired with Peninsula Advisors principal, Mark Robbins, a Park City investor, to disrupt a deal Colorado-based Vail had to buy The Canyons from American Skiing Co.
In filing the lawsuit, Talisker attorneys have claimed Vail has misused the legal system.
Vail Resorts was not even in the picture when American Skiing Co. began negotiating the sale of The Canyons to Toronto-based Talisker Corp. about four years ago, court papers filed by Talisker state.
Talisker was free to negotiate on the open market for the ski resort and made American Skiing Company a better offer, court papers state.
Robert Blume, an attorney for Vail Resorts, was not immediately available for comment. The Canyons Managing Director Mike Goar was also not immediately available to comment.
To see more of the Park Record, or to subscribe to the newspaper, go to http://www.parkrecord.com. Copyright (c) 2009, Park Record, Park City, Utah Distributed by McClatchy-Tribune Information Services. For reprints, email tmsreprints@permissionsgroup.com, call 800-374-7985 or 847-635-6550, send a fax to 847-635-6968, or write to The Permissions Group Inc., 1247 Milwaukee Ave., Suite 303, Glenview, IL 60025, USA.
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