Judge Rules on “First Day Motions” in Moonlight Basin Chapter 11 Hearing

PR Contact:
Russ McElyea
P.O. Box 1369
Ennis, MT 59729
Email: rmcelyea@moonlightbasin.com
406-682-6666

Ennis, Montana – November 24, 2009 – Our hearing to address the First Day Motions (related to Moonlight’s recent Chapter 11 filing) adjourned a few hours ago in Butte, Montana. The ruling was positive for Moonlight Basin on several fronts.

The judge ruled that interim financing will be provided by existing cash collateral with payroll as a first priority, as well as other essential course of business expenses until the next hearing, set for December 7, 2009. On December 7th additional financing proposals will be brought to the judge and we anticipate further decisions will be made on or around the hearing date.

It was agreed by all parties involved (Moonlight, Lehman and the Judge) that continued operation of the resort and an on-time opening of December 11 for season pass holders and December 12 for the rest of the public is of the utmost importance and priority.

Moonlight Basin is poised to open for the ski season with the addition of approximately 230 seasonal employees joining the team to provide the Montana Hospitality for which Moonlight is known. Guests of Moonlight Basin can look forward to a great winter season of skiing and riding. The terrain park has been expanded and there are several on-mountain events to enjoy, including the 5th Annual Headwaters Spring Runoff, Huck-a-Berry Rail Jam and Volcom Peanut Butter Rail Jam. This year is also the first year the resort will host the Special Olympics Big Sky Area Winter Games.

Lee Poole commented on the hearing by saying, “I am very pleased with the outcome of the hearing today. We will continue to shed light on the matters at hand, but meanwhile, our guests can rest assured that all parties involved are in agreement that the continued operation of Moonlight Basin is important. I am very much looking forward to seeing our guests, homeowners and golf members on the mountain this season.”