Findley Lake, NY – After a year in bankruptcy spawned by heavy mortgage debt, Peek’n Peak Ski Resort in western New York State is going to public auction later this summer.

The auction is the result of an agreement between the resort, owned by Kiebler Recreation LLC, and its creditors, the biggest of which is Huntington National Bank. The property located southwest of Buffalo, which includes both ski and golf facilities, has a value estimated at between $20 million and $30 million. Kiebler has debt totaling $28 million to $30 million, including $15 million owed to Huntington.

The bankruptcy proceedings began a year ago after plans for a 10-year, $280 million expansion adding new ski runs, hotel rooms, a base village and an indoor water park on the 1,150-acre property fell through in the economic downturn. Most of its visitors hail from northeastern Ohio. It currently offers day and night skiing on 27 trails serviced by eight lifts.

The date for the auction is expected to be scheduled in  U.S. Bankruptcy Court in Cleveland, Ohio, within the next few weeks. The sale is anticipated to close by Sept. 1.