August 21, 2014 in Business

In brief: Yellowstone Club trustee offers reward for hidden assets

From Wire Reports
 

HELENA – The trustee representing Yellowstone Club creditors offered a reward Wednesday to anyone who can help uncover property or bank accounts the luxury resort’s co-founder might have hidden from bankruptcy proceedings.

Brian Glasser, an attorney with Bailey & Glasser LLP of Charleston, West Virginia, offered 10 percent of the profits of the liquidated assets recovered from Tim Blixseth to anyone with information that leads to their discovery.

“There could be land holdings abroad, land holdings in other people’s names. That’s why we’re appealing to the public,” he told the Associated Press.

Blixseth dismissed the reward as a sign of desperation ahead of a federal appellate court’s ruling on the Yellowstone Club bankruptcy and other appeals that Blixseth said could eliminate the creditors’ claims.

“So, I will better their ‘bounty offer,’ ” Blixseth said in an email from his Seattle home. “I will offer (a) 50 percent reward to anyone who can find any hidden assets of mine.”

A bankruptcy judge previously said Blixseth diverted hundreds of millions of dollars from a 2005 loan to the resort north of Yellowstone National Park for his personal use.

Feds sell Texas offshore property for oil, gas use

The federal government has sold more than 400,000 acres in the Gulf of Mexico off the Texas coast for oil and gas exploration and development, an official with the U.S. Bureau of Ocean Energy Management said Wednesday.

The acreage represents a fraction of the 21.6 million acres the agency had offered as part of the Obama administration’s five-year program to aggressively develop resources on the Outer Continental Shelf. Offerings since 2012 in the western Gulf attracted buyers for about 60 million offshore acres, adding about $2.3 billion to the U.S. Treasury.

Wednesday’s sales, if approved, will bring in about $110 million, the agency’s western Gulf of Mexico Deputy Director Michael Celata said.

BP PLC submitted the largest number of high bids, winning 27 of the 81 tracts that sold.

51 UPS stores breached with computer virus

Some customers of The UPS Store may have had their credit and debit card information exposed by a computer virus found on systems at 51 stores in 24 states.

A spokeswoman for UPS said the information includes names, card numbers and postal and email addresses from about 100,000 transactions between Jan. 20 and Aug. 11.

United Parcel Service Inc. said Wednesday that it was among U.S. retailers who got a Department of Homeland Security bulletin about the malware on July 31. The malware is not identified by current anti-virus software.

The company is not aware of any fraud related to the attack, spokeswoman Chelsea Lee said.

Atlanta-based UPS said it hired a security firm that found the virus in systems at about 1 percent of the company’s 4,470 franchised locations.


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