BUTTE, Mont. (AP) A bankruptcy judge says Moonlight Basin can use money from a recent sale of a $1.4 million condo to conduct business as usual at the resort a ruling company officials say will ensure that lifts will be running this December.

Lawyers for the Big Sky resort, which filed for Chapter 11 bankruptcy protection this month, appeared in a Butte courtroom yesterday (Tuesday). That's after New York-based investment firm Lehman Brothers moved to foreclose on Moonlight Basin in September, saying the resort defaulted on a $92 million loan.

A bankruptcy judge on Tuesday also gave the resort permission to use funds in its bank account and between $152,000 and $180,000 wired to Moonlight by Lehman just before the bankruptcy filing.

During a hearing set for Dec. 7, Moonlight is expected to ask the judge to approve a $23 million loan from a Connecticut-based hedge fund to provide longer-term financing.

Information from: Bozeman Daily Chronicle, http://www.bozemandailychronicle.com (Copyright 2009 by The Associated Press. All Rights Reserved.) APNP 11-25-09 0415CST | save this article / add to your favorites list