More than $3 million in liens have been filed against the owner of Base Village since April, a review of public documents revealed. Approximately $647,000 worth of the liens have been released, which leaves the developer, if the claims are all valid, still about $2.4 million in debt to numerous contractors and subcontractors on its uncompleted Snowmass project.Since last fall’s credit market collapse, cash flow issues have been plaguing Base Village developer Related WestPac, which is a joint venture with New York real estate development giant Related Companies. Related WestPac officials declined comment on the liens and any legal action related to them, as well as the company’s general financial state.
By Catherine Lutz, July 1, 2009, Aspen Daily News

Link to article