"I intend on monetizing them for the benefit of the Yellowstone Club members, " said Edra.
"The money market took a big hiccup, and that delayed me getting the financing, " Edra explains.
Things began to fall apart when he and his wife Edra decided to divorce.
FORBES: Twisted Saga Involving Former Billionaire Tim Blixseth Takes Another Turn
Edra acknowledges that she bought out Tim's share of the club, but won't say for how much.
At the time, Edra told The Wall Street Journal she expected the deal to close in about a week.
Edra Blixseth says, however, that some creditors still have yet to be paid.
Tim and Edra Blixseth didn't start out intending to have a messy divorce.
Edra filed for personal bankruptcy in March 2009 but came out of it in the last week of February 2011.
FORBES: Twisted Saga Involving Former Billionaire Tim Blixseth Takes Another Turn
One week turned into five, as the deal to give Edra ownership of the Yellowstone Club took longer than expected.
And the battle between Tim and Edra Blixseth over the future of the Yellowstone Club is unlikely to end anytime soon.
Tim and his estranged wife Edra have separate legal representation because they are in the midst of a contested divorce settlement.
In a filing related to the divorce trial, Edra claimed she was out of cash and had borrowed money from her employees.
FORBES: Twisted Saga Involving Former Billionaire Tim Blixseth Takes Another Turn
Edra says she expects the divorce to become final in a few days, once all the needed papers are signed and filed.
Blixseth and his wife, Edra, lived a jetsetter lifestyle that included two Gulfstream jets, a fleet of luxury cars, and multiple expensive homes.
"I am very excited about how fast we feel we can get the Yellowstone Club back to the club it was, " says Edra.
Neither of the Blixseths have revealed the details of the deal that allowed Edra to take over ownership of the Yellowstone Club, citing a confidentiality agreement.
And e-mails that Tim Blixseth sent to Edra Blixseth in March, filed as part of Edra's affidavit in the LeMond case court documents, also point to a cash crunch.
Edra did say in an e-mail that as part of the settlement she gets two of the properties that Tim bought to start a global resort membership club called Yellowstone Club World.
In an early June filing as part of the divorce trial, Edra claimed she was out of cash and had borrowed money from some of the 97 employees at her 240-acre estate in Rancho Mirage, Calif.
When Tim and Edra first decided to get divorced in December 2006, they told The Wall Street Journal that they sat down with a bottle of wine and a yellow legal pad--without lawyers present--to divide up their assets.
In early July, news broke that as part of a divorce settlement, Edra would take over Tim's 50% ownership in the Yellowstone Club, a ski and golf playground for the rich (whose members include Bill Gates) near Big Sky, Mont.
In an e-mail, Edra Blixseth emphatically denies allegations of attempting to drive the market value of the property down so she can better afford to buy out her husband and says she initially refused to speak with a reporter for Fortune magazine, which published a long article in February detailing the club's troubles.
应用推荐