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Big Sky Update

Green Mountain was sued by Big Sky Metropolitan District No. 1, CDN Homes, LLP, and Cardel Homes U.S. Limited Partnership. Collectively, the Plaintiffs allege that Green Mountain anticipatorily repudiated (i.e. improperly breached) the Intergovernmental Agreement entered into between Green Mountain and Big Sky, which was intended to benefit CDN and Cardel, and that Green Mountain’s actions have violated various laws by preventing Plaintiffs from developing the property. The Plaintiffs seek various remedies, including specific performance and/or damages in excess of $60 million.

Court-ordered mediation took place on Monday, July 29, 2024, between Green Mountain, Big Sky, CDN, and Cardel. No settlement agreement was reached; however, the two representative board members in attendance, Karen and Dave, received a settlement proposal from the Plaintiffs and agreed to present that proposal to the full Board of Directors.

At the August 13, 2024 Board Meeting, the Green Mountain Board of Directors voted unanimously to reject the settlement proposal and proceed to trial.