Former billionaire suing Montana over forced bankruptcy

Published December 30, 2021 3:32 PM

By AMY BETH HANSON
Associated Press

HELENA, Mont. (AP) — Former billionaire Tim Blixseth has filed a lawsuit against Montana’s Department of Revenue seeking hundreds of millions of dollars in damages along with attorneys fees after a federal judge ruled the state wrongfully tried to force him into bankruptcy to collect back taxes. A Department of Revenue spokesperson says the agency is aware of the complaint, but had not seen it as of Thursday. Blixseth was the co-founder of the Yellowstone Club, a resort community for the ultrarich, that later filed for bankruptcy protection. The state said Blixseth owed taxes on some of the proceeds of a $375 million loan to the Yellowstone Club that Blixseth used for personal expenses.

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