ASPEN SNOWMASS REAL ESTATE — Owners of the Silvertree Hotel, which was scheduled to change hands last month along with two other Snowmass Village properties, have filed a lawsuit demanding $5.3 million from a group of entitles, including Related Westpac LLC, for backing out of the deal.The suit, filed Tuesday in Pitkin County District Court in Aspen, claims that the prospective buyers had agreed to pay $5 million to the hotel’s owners, the Burwell family, if the three-pronged sale did not close by 5 p.m. April 15. Prior to that deadline, however, the buyers — Related Westpac, Silvertree Joint Venture LLC and Lower Silvertree LLC — reneged on the contract, the suit says.
By Rick Carroll, May 6, 2010 Aspen Times

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