5, 2010, a massive mudslide occurred when retaining walls on the Ghost Town property gave way. Although there were no injuries, more than 40 homes had to be evacuated and three homes were damaged around the mountain. The park itself sustained damage, but to what extent is not publicly known. This led to speculation that the park would not open at all for the 2010 season. Shiver announced on a local news program that the park was still slated to open on Memorial Day weekend, but this did not happen. Federal funding was granted to the park in the amount of $1.3 million for the clean-up of its main access road, Rich Cove, which was buried in the slide. In early March, 2010, a judge ruled in favor of the park's largest creditors, SunTrust and BB&T, to proceed with foreclosure on Ghost Town and sell the property to begin paying off the park's $9 million debt to SunTrust and $5 million debt to BB&T. Ghost Town partners negotiated a separate deal with SunTrust and BB&T which gave them until May 31 to come up with an alternate plan to allow the park to continue operating if funding was obtained. On May 4, a judge approved a takeover bid by American Heritage Family Parks, who pledged to pay SunTrust $7 million of its debt, BB&T its entire $5 million of debt and pay $100,000 in back taxes to Haywood County. The park was said to be allowed to open for the season while details of the sale were worked out. Instead, the park remained closed. 2011 In April 2011, the bankruptcy administrator recommended dismissing the case, citing the failure of Ghost Town partners to submit a sufficient reorganization plan to pay its debts. This allowed foreclosure proceedings to continue as the park was no longer protected under Chapter 11. 2012 In February 2012, the park was purchased at public auction by Alaska Presley for $2.5 million. Presley, a Maggie Valley businesswoman involved with the park since its beginning, hoped to have at least a portion of the park open for the end of the 2012 season. On June 29, 2012, the park's A-frame entrance opened to the public for the first time in four years for gifts to be sold. The chairlift was also open and tours of the town could be taken. 2013 A limited opening of the park was