In a motion filed in October with Denver District Court, Broomfield, Colo.-based Vail Resorts indicated that it is no longer seeking control of The Canyons ski and snowboard resort near Park City, Utah, according to a report in First Tracks!!, an online ski magazine.
Vail Resorts filed suit in 2007 after the now-dissolved American Skiing Company agreed to sell the ski resort to Toronto’s Talisker Corporation for $100 million. Vail Resorts asserted that it had previously entered into an agreement with American Skiing Company to acquire the resort.
The motion now leaves Talisker as the undisputed owner of The Canyons, along with extensive real estate holdings in the Park City area.
With its filing, Vail Resorts has also dismissed its claims against American Skiing, but leaves open the possibility of seeking monetary damages from Talisker and Peninsula Advisers, LLC, which reportedly brokered the deal.