All parties are waiting for Judge Owen to rule on the motions for judgment, reconsideration and to amend complaints which were argued on November 19, 2012.

That decision will likely set more processes in motion. 

At present, a date for a sheriff's sale has not been set by Credit Suisse.  A date for a sheriff's sale may be impacted by whether the Judge grants any of the motions filed by TriState Electric, Banner Sabey, OZ Architects, MHTN Architects and BAG Holdings.

In brief, there are issues regarding how these 5 "senior creditors" and Credit Suisse will execute on their claims in a way that is efficient for the Valley County Sheriff and that respects their various priorities.

Tri-State, OZ, MHTN and Banner Sabey have all been adjudicated to have construction lien interests in Village Plaza that are senior to Credit Suisse's Village Plaza Mortgage.  The ranking of their priorities among each other is also a matter of some difference. 

OZ has been adjudicated to have a construction lien interest senior to the Credit Suisse mortgage in unfinished Trillium Townhomes.

MHTN has also been adjudicated to have a construction lien interest senior to the Credit Suisse mortgage in the unfinished Lake Wing.

BAG holdings has a vendee's lien interest senior to the Credit Suisse mortgage in the hotel site property up the hill and across Village Drive from Village Plaza.

It is fair to infer that Credit Suisse will not move forward with its sheriff's sale on the Tamarack mortgage until means for enforcement of the senior claims of Tri-State Electric, Banner Sabey, MHTN Architects, OZ and BAG are better defined. 

How the senior creditors engage each other, Credit Suisse and the Valley County Sheriff  to execute on those senior interests may be decided in greater or lesser degree in the decision that stems from the November 19 hearing. 

Until then we can only wait, and even then, the remaining adverse parties (Credit Suisse, Tri-State Electric, Banner Sabey, MHTN Architects, OZ and BAG) or Judge Owen may require more procedural refinement and therefore delay.