SAM Magazine-Boise, Idaho, Jan. 12, 2011-Judge Terry Myers has removed Tamarack Resort from federal Chapter 11 bankruptcy protection and sent the dispute over the resort's future back to state court.

What this means for the area's long-term future is not immediately clear. A potential buyer has bid $40 million for the resort. But Credit Suisse, which leads a group of investors owed more than $265 million, had petitioned Myers to convert the case into a Chapter 7 liquidation or send it back to state court and begin foreclosure proceedings. The resort's total debt is reportedly more than $350 million.

Meanwhile, skiing and riding continue as scheduled at Tamarack this season, under the management of the Tamarack Municipal Association (TMA), a homeowners' group.

"Our negotiating position always took into account that there could be mid-season court rulings in the case, and we were careful to secure approvals that allow us to continue to offer a ski and ride experience that has drawn thousands of people to Tamarack Resort so far this season," said Tim Flaherty, TMA executive director.

Flaherty said TMA has sold more than 1,600 season passes and is on track to reach daily lift-ticket sales goals.