Nearly 300 inches of snow have fallen this ski season, and real estate sales of mountain homes and fractional residences remain strong, but the founders of Idaho’s Tamarack Resort couldn’t escape the fallout from the multi-billion dollar French banking scandal. The Idaho Statesman reported that the two shareholders, Cross Atlantic Real Estate and VPG Investments, recently filed for bankruptcy protection because a $118 million loan from Société Générale was cancelled. The French bank faces some $7 billion in losses stemming from bad trades placed by a single trader.

Since the loan did not materialize, the Tamarack was facing potential foreclosure by creditor Credit Suisse, which is owed more than $250 million by the resort. The companies filed for Chapter 11 protection, which will allow the resort and real estate sales to continue.

The resort opened for its first ski season in 2004 and in recent years has attracted attention for its big name developments, including the Fairmont Tamarack, which is offering both hotel condominiums and ski-in/ski-out residences that top out at more than $5 million.