Park City/Talisker-Vail Lawsuit

So they never asked for $201 million. They merely indicated that they could have if they opted for that method. Thanks for clarifying that.

As you know, the Talisker memo was redacted. I suspect its safe to assume one of the Talisker valuations was the 200ish figure but instead they asked for a mere 123m (trying to show their reasonableness (cough)) .

In typical attorney dickwadishness PCMR use the hi number (200ish) in open court attempting to outrage the peanut gallery and out Talisker's gluttony. Ohhhh the draaama... (ummm not) I've seen PCMR's firm use these same limp tactics in other cases, they always backfire. amateur hour litigation at its best.

Cummings hired this crack litigation team thinking he'd scored Johnny Cochran. He's now at the point he knows he brought a carrot to a gun fight.

Yeah, I had the same reaction. Only a fool would have fallen for the idea that Talisker would ask for $200 million. If so, why on earth would they have included the lower valuation method? Duh...

VTKilarney said:

My prediction: The parties settle prior to the September 4th ruling on the bond. According to Twitter, the attorneys met with the judge in chambers. After that meeting the judge did an about-face and decided against making a ruling today on the amount of the bond.

My second prediction: Highway Star will say "You're an idiot" in the near future.

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I don't think it's fair to say about face. He set today as the deadline but probably gave them more time because he feels that they are trying to resolve this in good faith. Give them a few more days and then weigh in. He's already ruled for Talisker. It's only a matter of how badly POWDR is going to lose.

The about-face referred to the fact that earlier in the hearing he told the attorneys there would be a decision that day. I wasn't criticizing the judge. I think he did the right thing.

VTKilarney said:

The about-face referred to the fact that earlier in the hearing he told the attorneys there would be a decision that day. I wasn't criticizing the judge. I think he did the right thing.

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Harris was right not to rule today, if he had, without fully considering the new information presented in court, it could have been grounds for appeal. This is his standard MO. I'm confident Harris will make the right ruling, one that has little or no grounds for appeal. He's very, very good (unlike the assclowns PCMR hired)

My prediction: Bond will be set at $50-65 Million; If PCMR refuses to settle by selling their property to Talisker, Talisker will work toward a judgement that will reach Park Properties (the lower mtn titled owner).

Cummings has no leverage, no end game and assclowns for legal representation.

I have to agree that it appears (to this outsider looking in) that PCMR's counsel is holding PCMR's hand while PCMR walks off of a cliff. It is certainly possible, though, that PCMR is making terrible decisions after being fully advised of the consequences and their attorneys have no choice but to do their best in light of this.

One way or the other, Vail is making PCMR look like fools. Or perhaps Vail is just showing everyone what was behind the curtain to begin with.

I remember seeing a study done on companies that passed control on to heirs. The study showed that companies that did this were much worse off in the long run compared to companies that brought in outside management. Something to think about... I guess Market Basket would be the exception. For all of their in-fighting, they were a very profitable company.

StevePluvia said:

"Above is where I'm guessing, based on what I read in the arguement. PCMR, who had the unredacted version of the document, thought Vail was asking for $201M. They changed their mind at some point."

As someone else mentioned, (if you read the bond memo from talisker its pretty clear), both parties used various methods to argue why the bond should be xyz. with different methods you get different totals. One of Taliskers methods came to 120ish another 200ish.

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This is correct. Glad to see someone is paying attention here.

thetrailboss said:

I don't think it's fair to say about face. He set today as the deadline but probably gave them more time because he feels that they are trying to resolve this in good faith. Give them a few more days and then weigh in. He's already ruled for Talisker. It's only a matter of how badly POWDR is going to lose.

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Don't expect any any critical thinking or analysis from that guy, it's tough enough for him to remember to breathe.

Come on Highway Star... you know you want to make my second prediction correct...

skiNEwhere said:

Highway star is running TrollBot v9.32, good luck with that. His default response if a parameter isn't met will be "You're an idiot"

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Certain comments aren't worth a response beyond that.

VTKilarney said:

Come on Highway Star... you know you want to make my second prediction correct...

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If I was paying attention to your posts, I would know what you're talking about. But I'm not, because..................




















..........wait for it..................






























............little bit more.................






















............remember to keep breathing....................




















...............you're an idiot.

Nice!!!!!!!!!!!!!!!!!!! I'm batting .500 so far!

VTKilarney said:

Nice!!!!!!!!!!!!!!!!!!! I'm batting .500 so far!

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Sorry, I've been called an idiot more, so I'm the clear cut winner

Damn! I guess I am still in the minor leagues.

StevePluvia said:

My prediction: Bond will be set at $50-65 Million; If PCMR refuses to settle by selling their property to Talisker, Talisker will work toward a judgement that will reach Park Properties (the lower mtn titled owner).

Cummings has no leverage, no end game and assclowns for legal representation.

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Help me out here, but I'm a little bit confused about what currently is in front of the judge. My understanding is the Judge only has in front of him the task of setting the bond amount that PCMR will have to post to remain on the property through the upcoming season and appeal process. The PCMR appeal is primarily to address the ruling by the Judge that PCMR no longer has a valid lease for the Talisker land. If PCMR refuses to post the bond, the judge will sign the eviction order and maybe rule on the timeframe for eviction and what can be removed from the land.

At that point, to keep the resort open, that only leaves mediation to solve the problem. Outcomes could be PCMR selling their assets to Vail. That sale would most likely take into account money owed to both Talisker and Vail for past lease payments. Given the water rights, infrastructure and land, I'm not sure which side would receive any money from the sale. It could also result in PCMR leasing their assets to Vail or a complete breakdown of negotiation and PCMR goes forward with the smaller resort and Woodward facility. At that point, Talisker/Vail would sue PCMR for damages and past lease payments. Again, if the judge rules in Talisker/Vail's favor (that would be a new trial or summary judgement) and PCMR couldn't pay the judgement, they could/would go into foreclosure. This could result in Talisker/Vail taking ownership of their assets. That is also going to require a whole other set of bankruptcy court hearings and rulings, which could take years.

I'm unclear on how Talisker/Vail could have any claim against Park Properties, Inc. Just because the have the same owner, Park Properties, Inc. is a separate incorporation, and as such, are protected from claims. Just as John Cummings assets are not in jeopardy from any lawsuit by Talisker/Vail. That is one of the key benefits of having a company incorporated, it shields your own personal assets from lawsuits and claims.

And finally, why do you feel that PCMR's lawyers are "assclowns"? I'm not a lawyer, but I just haven't read anything that would indicate that. You figure if they had made any big blunders in their fillings, it would have be called to attention.

Highway Star said:

If I was paying attention to your posts, I would know what you're talking about. But I'm not, because..................




















..........wait for it..................






























............little bit more.................






















............remember to keep breathing....................




















...............you're an idiot.

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Hate to waste the space, but this was classic....

skiNEwhere said:

I want to know what happened to the person responsible for the dropping the ball on the lease. Is it safe to say they were fired?

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Rumor has it he was actual a Vail employee just waiting for a chance to F'up the lease deal. Now retired with a place at Vail and is own private island in the Caribbean.

Skimaine said:

Rumor has it he was actual a Vail employee just waiting for a chance to F'up the lease deal. Now retired with a place at Vail and is own private island in the Caribbean.

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no just plain incompetence that a simple outlook reminder could've solved.