INTRAWEST UPDATE 3: VANOC denies Intrawest financial woes will impact Olympic skiing events
INTRAWEST UPDATE 2: Intrawest ULC, the owner of Whistler-Blackcomb, will be put on the auction block February 19th by creditors
INTRAWEST UPDATE 1: Banks seize Intrawest, plan to auction company in middle of the Olympic Games.
Intrawest foreclosure a threat to Olympics
The drama at ski resort and Winter Olympics venue Whistler Blackcomb may go beyond the competition related to the Games.
Sources tell The Post that creditors holding $1.4 billion of debt on Whistler owner Intrawest are planning to foreclose on the company within the next week and a half, casting a shadow on the resort, which will host the alpine events of the 2010 Olympics. "It will probably happen within 10 days," a source said...
The Vancouver Olympic Committee (Vanoc) guaranteed that it would make Intrawest whole for the time that its events take place at its resorts. But now, according to a source, Canadian officials are threatening to pull that roughly $50 million guarantee. That, the source said, has compelled Edens to privately say he has a legal right to keep the Games from taking place at Whistler.
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