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BILLINGS, Mont. — Court documents show the exclusive Yellowstone Club resort owes an estimated $343 million to creditors such as banks and local contractors. The residential club for the ultrarich filed for Chapter 11 bankruptcy protection Monday. The club also wants court approval of a $4.5 million loan to open for the winter season. Founded in 1999, the invitation-only club counts Microsoft co-founder Bill Gates and former Vice President Dan Quayle among its 340 members. Critics accuse the club’s founders, Tim and Edra Blixseth, of going on a spending spree even as the luxury real-estate market stagnated, setting the stage for the bankruptcy filing. The Associated Press; Bloomberg News file photo
