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Ex-billionaire and former Valley resident due in Montana bankruptcy court

A one-time billionaire real estate mogul hounded by creditors for his role in driving a luxury Montana resort into bankruptcy is due in court Monday.

U.S. Bankruptcy Judge Ralph Kirscher has ordered Yellowstone Club founder and former Rancho Mirage resident Tim Blixseth to appear in person in Butte.

The proceedings could reveal what happened to more than $200 million Blixseth diverted from the club for his personal use.

A trustee for the club’s creditors wants to get Blixseth under oath to answer questions about his finances.

Blixseth was estimated by Forbes to be worth $1.3 billion prior to the Yellowstone Club’s 2008 bankruptcy, with properties in Montana, Mexico, California, Wyoming, Washington state and elsewhere.

His attorneys say Blixseth’s fortune is now gone, burned up by legal fees, divorce and the economic downturn.

Creditors’ trustee Brian Glasser says Blixseth is hiding assets.

KESQ News Team

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