The Utah tug-of-war between Vail Resorts, Inc. and Talisker Corp. may finally be over. Vail has filed court papers stating it will not go after The Canyons.
Talisker could now ultimately ski away the victor in the long-running battle to declare ownership rights to the Park City area ski resort once owned by the now-defunct American Skiing Company (ASC).
ASC announced the sale of The Canyons to Talisker Corp. in 2007, much to the surprise of Vail Resorts who claimed they had already negotiated the right to buy the resort. Talisker said they had every right to outbid Vail, but Vail claimed their deal was undermined with the help of Talisker's consultants, Peninsula Advisors, LLC. Vail fought for an injunction to stop the sale, but the deal closed in June 2008.
Vail's decision - no specific reasons for the turnabout - hands Talisker the ownership interest in land that reaches from The Canyons to the banks of the Jordanelle Reservoir (east of Deer Valley).
The motion Vail filed Oct. 20, 2009, in Denver District Court would dismiss American Skiing Co. from the lawsuit, but Vail would retains the right to sue Talisker and Peninsula for damages.
"Vail agrees that it will not seek, in this or any action, any form of relief that will have the effect of invalidating, reversing, modifying, altering or otherwise affecting the Canyons transaction or any of its terms, including, without limitation, injunctive relief or a constructive trust," the court stipulation states. "Vail no longer seeks relief that could, in any manner, interfere with the Canyons transaction."
The Canyons is Talisker's first ski resort. They became owners of land, mineral rights, and developments at Deer Valley and Park City Mountain Resort when they bought up United Park City Mines in 2003.