Hearing Hints of Settlement Talks between Park City Resort, Talisker Land Holdings

professional real estate man

by Joel Carson
President/Principal Broker
Utah Real Estate
SLBR 2012 ‘Salesperson of the Year’

Person skiing down a hill with the sun shiningIt sounds like Park City Mountain Resort (PCMR) and Talisker Land Holdings, LLC have come together to at least talk about the high-profile lawsuit that has had the two companies (as well as their parent companies and associates) entangled in battle for at least 17 months, according to a Sept. 27 Park Record article by journalist Jay Hamburger.

Just a brief recap for those of you who are new to the frustrating situation brewing in and around our state’s world-class ski resort: PCMR, owned by Powdr Corp. occupies property in Summit County, Utah currently owned by Talisker. PCMR has leased the property for decades and has invested millions of dollars in improvements to better the resort. Talisker claims PCMR missed its deadline to renew the long-standing lease. PCMR claims the intention to renew the lease was clearly expressed. When lease negotiations broke down, Talisker turned to Vail Resorts. Vail operates nearby Canyons Resort. The Park City resort operator claims Talisker wronged PCMR by negotiating with Vail on the lease of property just below the Park City resort. It appears Vail is poised to take over the Park City Resort in the event PCMR is ousted.

According to the Park Record, 3rd District Court Judge Ryan Harris participated in a telephone conference with representatives of Talisker and PCMR on Sept. 26 during which hints of confidential settlement negotiations were made repeatedly. This comes after PCMR won two major legal battles including the right to keep private important client/attorney emails exchanged between the company and its attorneys at the time the lease was due for signing.

PCMR was also recently granted the privilege to revamp a lawsuit filed against Talisker with new charges that the land owner negotiated with Vail and ignored PCMR’s first right of refusal. The recast lawsuit came in under seal. Hamburger wrote, “A second version of the 23-page lawsuit was filed shortly after the conference with approximately three pages blacked out, or redacted. The sides did not object to the release of the second version with the approximately three pages kept private. The original version is the official document, though. The redacted pages involve 17 sentences or short paragraphs.” In late 2012, Harris dismissed parts of the case, and his recent decision allowing PCMR to expand the case was a major victory for the resort, Hamburger said.

Talks of a settlement come as a little bit of a surprise. The battle has been heated and bitter.

The new lawsuit reportedly added new parties as defendants United Park City Mines Company and Talisker were both named in the original case which now includes new defendants:

  • VR CPC Holdings, Inc.
  • Flera, LLC
  • Talisker Canyons Leasco, LLC
  • Talisker Canyons Finance Co, LLC
  • 10 unnamed corporations

If you’ve been following this case, I think you’ll agree the new developments are fascinating. There a lot riding on the end result for the star-studded community and obviously for all the corporate players ready to tangle over what has become an incredibly valuable property with a golden reputation.

Park City condos, Park City vacation homes, cabins and Park City executive homes remain among some of the most sought-after properties on the Utah market today. Please browse the many available properties at www.allparkcityhomes.com

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