Associated Press - July 7, 2009 7:54 PM ET

BOISE, Idaho (AP) - Credit Suisse Group told a state judge it's ending funding for the court-appointed receiver running Tamarack Resort, meaning operational control of the struggling central Idaho real-estate development, ski area and golf course will revert to its owners Wednesday.

Jean-Pierre Boespflug, the majority owner, said Tuesday he doesn't plan to inject additional money and says he now fears degradation of facilities, if nobody provides new funding for preservation efforts.

Boespflug says he's still optimistic a new investor will be found.

Douglas Wilson, the San Diego, Calif.-based receiver, is also concerned about Tamarack upkeep after Wednesday.

Wilson said following a 4th District Court hearing in Boise, "We stretched the dollars as far as we could responsibly, but at this point, the tank is out of gas."

Zurich-based Credit Suisse leads a lender group trying to recover a $250 million construction loan, plus interest and penalties, from Tamarack.

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