Business Monday briefs: Redstone Castle listed for $19.75 million; Aspen Skiing Co. to appeal Liftopia ruling
The historic and recently restored Redstone Castle is being listed for sale at a price of $19.75 million.
Known as the “Ruby of the Rockies,” the Redstone Castle is located about 15 miles outside of Carbondale and 48 miles from Aspen.
The 153-acre property includes a carriage house, garages and horse arena, and early water rights and the right to build 20,000 square feet of additional cabins or cottages in private, wooded areas on the grounds. That’s according to a new release issued last week by Coldwell Banker Mason Morse Real Estate, whose Chris Souki and Jeff Bier are the listing agents for the property.
“Perched on the edge of the Crystal River and surrounded by dramatic red cliffs, cascading waterfalls and 100-year-old pine trees, Redstone Castle has maintained a towering presence in Colorado history,” the news release said. “The iconic Tudor-style mansion was built by coal magnate John Cleveland Osgood in 1902 and became a beloved hunting and gaming destination for America’s most powerful dignitaries of the day, including Teddy Roosevelt, J.P. Morgan and the Rockefellers. The castle is listed on the National Register of Historic Places.”
Skico to appeal Liftopia ruling
A dispute over ticket-sales revenue isn’t over between Aspen Skiing Co. and Liftopia.
Documents filed Sept. 9 in a California federal court show Skico, which alleges it is owed $2.38 million from the San Franisco-based online merchant of ski tickets, plans to appeal a judge’s dismissal of Liftopia’s bankruptcy.
As managing member of the Mountain Collective pass, Skico, along with a group of other ski areas, tried to force Liftopia into what’s called an involuntary bankruptcy June 2.
U.S. Bankruptcy Judge Hannah Blumstiel of the Northern District of California dismissed the case Aug. 6 after concluding a “bona fide dispute” existed between parties over how much is actually owed.
Bankruptcy law states for an involuntary bankruptcy case to proceed, there cannot be a bona fide dispute between the petitioning creditors and the debtor over the amount owed.
The San Francisco law firm Pillsbury Winthrop Shaw Pittman LLP filed the notice of appeal on behalf of Skico and the other creditors. The arguments for the appeal have yet to be presented.
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