Here is the latest update on all the legal happenings in Cordillera courtesy of the Eagle County Times. This ongoing soap opera seemed to be heading in the right direction when David Wilhelm resigned as managing partner. Here is the latest:
by Clayton Moore
What’s going on with the (now) Class Action Lawsuit involving the Wilhelm Family Partnership and the members of the Cordillera Golf Club?
Well…it was NOT a good day, yesterday, in Federal Court – for the cause of the Wilhelm Family Partnership.
The WFP filed just weeks earlier to move the case to Federal Court (after the lawsuit attained Class Action Status) – that status achieved by a previous ruling from District Court Judge Fred Gannett. The Plaintiff’s in this case (Golf Course Members, et al) filed with District Court – to get Class Action status. (Click Here)
Yesterday the ruling from Federal Court was handed down. The WFP’s attempt to move their Case to Federal Court was rejected by the Ruling of Judge William J. Martinez – a U.S. District Judge. This case is now back in the hands of District Court and Judge Fred Gannett.
So what can reasonably be expected to happen next?
Cordillera insiders have insisted privately that this recent WFP “move” to try and get this lawsuit into Federal Court was no more than an attempt at a delaying tactic in the Courtroom.
Know This: There has absolutely been no attempt by local Alpine Bank to delay the repayment of their ~$13.7 Million dollar loan – that the Wilhelm Family Partnership currently has with Alpine. It has been reported that this (interest only?) loan is due in it’s entirety no later than June 2012. Alpine for their part has shown no fear of (jumping into) this litigation as a 3rd party litigant – to protect their $13.7 Million Dollar loan – that is secured (in part) by the pristine condition of the 4 Cordillera Golf Courses.
ECT’s question: Who is going to pay to maintain those Cordillera courses this Spring, when/if the WFP (declares bankruptcy?) as their next move in this now (multi-year) lawsuit?