While a federal bankruptcy judge approved the sale today, some creditors were not happy and filed objections. Greek Peak sought Chapter 11 protection in August 2012, with debts totaling $47 million, much of that related to the construction of a hotel and water park.
The lawyers for Peak Resorts, the parent company for Greek Peak, argued that selling Greek Peak was the only viable way to make sure the resort could continue to operate without being liquidated.