Mont. can pursue ex-billionaire bankruptcy
Daily Legal News
Montana's bid to force ultra-luxury resort founder Tim Blixseth into bankruptcy and make him come up with up $57 million in purported back taxes has been resurrected by an appeals court ruling in the case.
A three-judge panel of the 9th U.S. Circuit Court of Appeals overruled a lower court Monday and said Nevada is the proper venue for the case.
Blixseth, a one-time billionaire who lives in Washington state, is believed to have most of his assets in a Nevada-based trust.
On Tuesday, he promised an appeal.
The appellate ruling comes after a Dec. 5 order that Blixseth pay $41 million to creditors from the Yellowstone Club, the private ski resort he founded near Big Sky.
Beginning in 2005, Blixseth diverted most of a $375 million loan to the club to himself and then-wife Edra Blixseth. They used the money to buy up luxury estates around the world, a pair of jets, cars, furniture, art and jewelry.
When the resort started to founder, Tim Blixseth turned it over to Edra Blixseth during their 2008 divorce and took most of their remaining assets. The Yellowstone Club went bankrupt months later. It was later sold and is now under new ownership.
Montana tax authorities contend the money Blixseth got out of the 2005 loan, from banking giant Credit Suisse, was taxable. They've tried for more than two years to get him to pay up. A separate proceeding to get the money is pending before the Montana Tax Appeals Board.
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Grounds for Divorce in Ohio - Sylkatis Law, LLC
A divorce in Ohio is filed when there is typically “fault” by one of the parties and party not at “fault” seeks to end the marriage. A court in Ohio may grant a divorce for the following reasons:
• Willful absence of the adverse party for one year
• Adultery
• Extreme cruelty
• Fraudulent contract
• Any gross neglect of duty
• Habitual drunkenness
• Imprisonment in a correctional institution at the time of filing the complaint
• Procurement of a divorce outside this state by the other party
Additionally, there are two “no-fault” basis for which a court may grant a divorce:
• When the parties have, without interruption for one year, lived separate and apart without cohabitation
• Incompatibility, unless denied by either party
However, whether or not the the court grants the divorce for “fault” or not, in Ohio the party not at “fault” will not get a bigger slice of the marital property.