10.8°C Not observed 
The owners of Whistler Blackcomb reportedly have received another extension from lenders in their efforts to avoid a sell-off of the parent company’s assets.
The Canadian Press, citing “a source familiar with negotiators,” on Friday (Feb. 26) reported that the lenders, led by Lehman Brothers and Davidson Kempner Capital, had delayed an auction of the assets of Intrawest, owned by New York-based Fortress Investment Group.
The auction, which has been threatened in response to a missed $524 debt repayment dating back to last October, had been planned on Feb. 19 but last week was pushed back to Friday. The auction, first announced in newspaper ads early this month, is purported to be one step in the foreclosure process.
Lenders granted the second extension “as the firm and its lenders continue talks to rework its debt,” CP reported The new auction date is believed to be Monday (March 1).
