BILLINGS, Mont. -- Running out of money may seem unlikely for a private resort whose members includes billionaire Bill Gates and Los Angeles Dodgers owner Frank McCourt, but that's the fate that will befall the ultra-exclusive Yellowstone Club this week unless it can line up another loan.
Less than two years ago the club's owners were pursuing ambitious plans that they said included the world's most expensive home, a $155 million, 53,000-square-foot behemoth complete with heated driveway. That project was never built. Now the Yellowstone Club is one of at least four high-end resorts that have sought bankruptcy protection in recent months.
To join the club, each member put down a $250,000 deposit and bought a piece of property. Earlier this year, the asking prices for Yellowstone Club building lots were up to $10 million apiece.
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