EB5 Blindfolded Sale

The Bankruptcy Court in the District of Utah has presented Wohali as a soggy asset, its clay‑clad greens nestled west of Interstate 80 in Coalville. Matt McKinlay, appointed trustee under Judge Peggy Hunt, now seeks a court‑approved loan to keep the 55‑employee golf course breathing before a March auction. EB5AN Wohali Utah Fund XV, a nameless consortium of foreign EB‑5 investors, claims $85 million in dues and threatens to outbid any private buyer with a credit bid, turning the resort into a discount estate. Doug Bergeron, once hailed for his Mumbai‑style Deer Valley mansion and now suing the HOA for “inequitable conduct,” scoffs that the property cannot fetch more than a fire sale price due to winter snow or the arbitrarily low appraisal of $67 million. The council’s credibility shrinks faster than the course’s greens, while proponents claim drones and glossy videos might lure a buyer. As ROI meanders between 0% and –40%, my recommendation drifts toward selling or suing the HOA, whichever delivers the next quiet cheque.