Whistler-Blackcomb Resort’s uber-owner Fortress Investment Group LLC has been given an extension on the Intrawest asset action that was supposed to take place tomorrow February 19, 2010, according to a story on Bloomberg.com.
Creditors including the estate of collapsed bank Lehman Brothers Holdings Inc., who have sought control of Intrawest since it missed a final payment in December on a $1.4 billion loan, agreed to extend the deadline for the auction until Feb. 26, according to the person, who declined to be identified because terms are private.
Nice of them not to dirty up the Olympic proceedings with some financial realities isn’t it?
[Link: Bloomberg]
