Posted: Dec 29, 2012 4:24 PM by AP posted by Juice Godfrey
VAIL, Colo. (AP) - A California-based investment group has closed on its $14.2 million purchase of The Club at Cordillera residential golf community in Edwards at a bankruptcy auction.
The Vail Daily reports the closing of Wind Rose Holdings LLC's purchase resolves a lawsuit that Cordillera homeowners had filed against owner David Wilhelm.
Wilhelm is an investor in Wind Rose but says he won't have a management or operational role in the club's new structure.
The lawsuit had accused Wilhelm of collecting dues from club members before announcing he wouldn't open all of Cordillera's golf courses as expected. Wilhelm then accused the disgruntled homeowners of plotting to run him out of business and take over the club.