ASPEN REAL ESTATE – An offshore investment company has begun foreclosure proceedings against Peter and Bruce Droste, the Snowmass landowners who last fall won approval to build a nine-home development (on a an amazingly scenic ridge line between Owl Creek and Brush Creek Roads – editor) there after a bitter years-long battle with Pitkin County.Court documents filed by Bomoseen Investments claim they loaned the Drostes $2 million in 2005, using three plots of Droste land as collateral. The lender, based in Tortilla, Virgin Islands, alleges the Drostes did not pay the annual interest payments they had promised on the loan. Bomoseen further claims that the Drostes did not abandon landscaping and other improvements to the property which they promised to stop under the terms of the loan.
By Andrew Travers, Jan. 11, 2010 Aspen Daily News

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