The unfinished Wohali golf course and luxury community west of Coalville is barreling toward a court‑ordered auction, with bids due April 20 and the gavel set to drop April 24. Trustees and creditors are scrambling to lock in offers, and the outcome could decide both whether the course sees summer play and which creditors actually get paid. At the center of the fight: an EB‑5 investor group that financed the project, squaring off with private bidders, including a Park City billionaire who has publicly said he wants to buy the development.
Bankruptcy filings and court notices show the trustee overseeing Wohali has moved to solicit offers, according to The Salt Lake Tribune. The Tribune reports the trustee is seeking court approval of bid procedures that would lock in the timetable and rules for a sale that could wrap up this spring.
Auction Timeline And Who’s Bidding
Chief Judge Peggy Hunt has put everyone on a tight clock: bids are due April 20, the auction is set for April 24 and a closing has been penciled in for May 13, per Park Record. The trustee’s marketing materials and court filings suggest the development is unlikely to fetch much more than roughly $65 million, and EB‑5 creditors that supplied the largest loans are widely expected to sit at the front of the bidding line.
EB‑5 Creditors And The Credit‑Bid Threat
The District of Utah docket lists EB5AN Wohali Utah Fund XV as a key creditor and shows the trustee filed a motion in early March to approve the sale and bidding procedures, according to the U.S. Bankruptcy Court docket. Filings and related reporting say EB5AN claims it loaned about $79 million and that Wohali owed roughly $86 million when it filed for bankruptcy. Under federal law, a secured creditor may submit a “credit bid” up to the amount of its allowed claim under 11 U.S.C. § 363(k), a right explained by Cornell Law School, which could let EB5AN use its claim as currency instead of cash.
Owners, Contractors And ‘Fire‑Sale’ Fears
Homeowners who bought lots and several contractors argue that a lightning‑fast sale would amount to a “fire sale” that leaves smaller creditors holding the bag, and multiple firms have filed claims and lawsuits over unpaid invoices, according to reporting. Local owners and their attorneys have urged the court to slow things down and allow more time and mediation to explore alternatives that might preserve more value for lot buyers and subcontractors, per Park Record.
What’s Next For The Course And Community
Trying to keep the project’s value from sliding and to leave the door open to summer play, the trustee is offering 150 golf memberships at $15,000 apiece for the 2026 season. The trustee has said all 150 must sell for the course to open and that refunds will be issued if they do not, according to KPCW. Between those membership sales, the April auction schedule and the possibility of a credit bid, the property’s ultimate fate and payout order are unlikely to be clear until the court‑supervised sale is in the books, KPCW reports.
As the April 20 bid deadline looms, Coalville neighbors, lot owners and contractors say they will be glued to the court docket and auction results. Doug Bergeron, the Park City businessman who has publicly said he would consider taking over the project, remains a potential private bidder, and whether a credit bid from EB5AN or a private turnaround prevails should be decided in the coming weeks, as first flagged in local coverage by TownLift.
