Investors Call Auction of High-End Resort ‘Dishonest' and ‘Immoral'

The auction of one of Utah's fanciest resorts has drawn a furious response from investors. But the attorney representing the company that bought Wasatch County's Zermatt Resort says everything about the auction was perfectly legal.

The transactions leading to Monday's auction are complicated, but simply put: The company that sold the resort is the same company that bought it; and in doing so, they wiped out as much as $20 million in debt.

Zermatt is an award-winning resort for the wealthy; a touch of Switzerland in the Heber Valley. The resort is in its fourth year, trying to build an international clientele.

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