Receiver appointed to run Genoa Lakes courses
November 8, 2012
A receiver has been appointed to operate the two Genoa Lakes golf courses, owner Mario Antoci told members on Wednesday.
Greg Christovich of Christovich and Associates was appointed to oversee operations of the courses by the Douglas County Court on Tuesday, Antoci said.
Bank of America which holds the mortgage on the courses sought a receiver on Oct. 18 in response to the seasonal closure of the north course, according to court documents.
The sale of the clubs, announced in September, has been further delayed, Anotci said.
Bank of America is holding a roughly $3.5 million note, its attorneys claimed in the district court filing.
The sale of the two courses, which comprise 36 holes and 564 acres, was expected to close on Sept. 28 when it first came to light in mid-September.
A few days before that date, a press release reported the sale’s completion would occur in mid-October.
Purchasers Mike and Denise Mazzaferri are the owners of Mazz Golf Management Co., and currently hold the management contract with Washoe County for the operation of Sierra Sage Golf Course in Stead.