JACKSON - A golf and home development along the Snake River has filed a federal court motion to convert from Chapter 11 to Chapter 7 bankruptcy.
Chapter 11 bankruptcy allowed the owners of the Snake River Sporting Club to continue operating while reorganizing under court supervision. Chapter 7 would allow liquidation of assets to pay creditors.
Originally called the Canyon Club, the development received a final permit in 2003. Plans called for 63 lots, a golf course, clubhouse, common area and open space on 359 acres. The development was criticized for its location near the river and bald eagle nests.
The club filed for Chapter 11 bankruptcy in federal court in Cheyenne on Oct. 20. Court documents under the filing showed the club had $92 million in liabilities and $10 million in assets.