Moral Of Yellowstone Club Bankruptcy: Fail Huge


The bankrupt Yellowstone Club Blixseths are just like the other millions of American business and homeowners forced into bankruptcy in recent years, right? 

Well, kind of.

The big difference is that they owe so much money–$500-ish million–that their creditors have to think carefully about how to go after them.  And in the meantime, the beleaguered Mrs. Blixseth gets to live in (and possibly keep) her private golf course and 30,000 square foot estate.  The triumphant Mr. Blixseth, meanwhile, is nowhere to be seen.

The NYT details the serially bankrupt couple’s current “travails”:

NINE days after declaring personal bankruptcy — again — a barefoot Edra Blixseth pads excitedly around Porcupine Creek, her 30,000-square-foot estate here. Guests are coming, probably 125 in all. They’re due any minute. The zipper on her sternum-baring cocktail dress is jammed. Do you think it’s too tight? Can somebody help her?

Porcupine Creek is lavish, with a 240-acre private golf course and a pool guarded by bronze lions. Many visitors have seen all that, plus the automated fountain that splashes at the end of her 1,700-foot driveway.

But so far, only Ms. Blixseth’s good friends have wandered around the private space inside: the prayer room, the gym, the beauty parlor, the wet room, the cozy massage alcoves and the private theatre adorned with murals; then there’s the 18th-century French furniture, the Italian stained glass, the bedroom suite from the Vatican, the ancient Tibetan Tankas. Until this day, she has never hosted a charity event inside her home. Given the circumstances, though, it’s the best she can do.

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