FINDLEY LAKE, N.Y. —Peek’n Peak Resort, the popular ski and golf resort in Findley Lake, N.Y., has filed for Chapter 11 bankruptcy, the most complex and expensive type of bankruptcy, according to the Jamestown (N.Y.) Post-Journal.
The difference between Chapter 11 bankruptcy and other type of bankruptcy is that the company can still run their business and control the bankruptcy process.
Paul Kiebler IV, owner of the resort, filed for bankruptcy in Ohio’s northern district, but Huntingdon National Bank — one of the resort’s primary creditors — is trying to move the case to western New York.
Peek‘n Peak owes more than $15 million to Huntingdon National Bank, including $954,869.88 in property taxes and $697,003.11 in unpaid sales and use taxes.
Kiebler has also filed emergency motions allowing him to pay employee wages and benefits accrued before the bankruptcy filing, according to the Jamestown Post-Journal.