The Aspen (Colo.) Club and Spa is out of bankruptcy and back into foreclosure, but this time owner Michael Fox said he and his team won’t be battling their creditors, the Aspen Times reported. Fox held an optimistic outlook about The Aspen Club’s prospects when it had been pushed into foreclosure before, as well as when it declared chapter 11 bankruptcy in May 2019. Last week, however, saw a judge dismiss the bankruptcy case in Denver on Sept. 1 and a creditor file documents in Pitkin County on Sept. 2 to foreclose on the east Aspen property. GPIF Aspen Club for the second time is attempting to foreclose on the Aspen Club. Attorneys at the law firm that filed foreclosure paperwork with the Pitkin County Clerk and Recorder’s Office could not be reached for comment Wednesday, but the documents state that Aspen Club owes $30 million to GPIF. GPIF Aspen Club is affiliated with Dallas investor Jeff Goff’s GP Invitation Funds and is associated with companies that own the Canyon Ranch luxury resorts in Tucson, Arizona, and Lenox, Massachusetts, and the Brown Palace hotel in Denver. Aspen Club attorneys previously argued in the bankruptcy proceedings that GPIF Aspen Club was making a play on the property, something GPIF’s legal team argued was not the case.
