Creditors holding $1.4 billion (U.S.) in debt on Intrawest ULC have begun foreclosure proceedings on some of the company’s assets, including the Whistler Blackcomb ski resort, and say they plan to auction them off on February 19.
The resort operator’s financial woes have put Vancouver Olympic organizers in a quandary, since the sale of the company would be an unwelcome disruption to the games, which open February 12.
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