Talisker hit with lawsuit
Talisker Corp. was sued Thursday by a developer who claims the Toronto-based firm cannot pay a $5.4 million debt "because of a small number of lot sales at the Tuhaye" development.
A slew of Talisker entities and Talisker Corp. CEO Jack Bistricer are named as defendants in the eight-page lawsuit filed by Indian Hollow, LLC, which formerly owned property at Tuhaye.
"David Smith, attorney for Jack Bistricer has invited Indian Hollow to file this lawsuit in the event they felt that it was necessary to collect the outstanding debt as Jack Bistricer was not able to pay it at this time," the lawsuit against Talisker states.
The complaint was filed in 4th District Court in Wasatch County and seeks $16.2 million from Talisker.
Tuhaye is a golf community owned by Talisker near the Summit County line at Jordanelle.
According to a purchase agreement filed with the lawsuit, the Tuhaye Ranch was sold to Talisker for $7.8 million in 2005.
Talisker agreed to pay $2.4 million of the cost with monthly installments of $50,000, the contract states.
But Talisker hasn’t made a payment in four months, the lawsuit states.
"In response, Bistricer stated that because of a small number of lot sales at the Tuhaye Development, he did not have the funds available to him to make the payments required under the agreement and would not be making them for that reason," the complaint states.
The claims come as Talisker tried Friday to finalize its purchase of The Canyons resort from Park City-based American Skiing Co.
"We think it is suspect timing of the filing," said Mark Thorne, vice president of resort development for Talisker.
Thorne stopped short of linking the timing of the lawsuit with efforts by Talisker to finalize its purchase of The Canyons resort near Park City.
"I won’t tie it to that," Thorne said, adding that Indian Hollow was a contractor at Tuhaye. "We have a dispute with [Indian Hollow] between poor workmanship and nonperformance."
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Court report: Week of June 22