Whistler 23-24

[LeeLau]

Not quite Whistler, but it looks like Garibaldi at Squamish might be done for:-

A receiver is being appointed after two companies involved in the delayed development of a ski and snowboard resort near Squamish defaulted on loans.

B.C. Supreme Court Justice Paul Walker heard the petition from Aquilini Development LP (ADLP), Garibaldi Resort Management Co. Ltd. (GRMC),and 1413994 B.C. Ltd. on Monday in Vancouver.

They applied for the appointment of Ernst & Young to manage Garibaldi at Squamish LP (GAS LP) and Garibaldi at Squamish Inc. (GAS Inc.).

Walker said he was “satisfied the order should go” and set Jan. 15 as the next court date.

The petition was filed Sept. 22, almost two months after the lawyers for the petitioners demanded immediate payment of the $65 million owing as of May 31, including interest and legal costs.

“GAS has failed or neglected to pay the amount demanded (or any part thereof) to the petitioners,” said the petition.

https://www.castanet.net/news/BC/460...quamish#460759

https://www.castanet.net/news/BC/460...-near-Squamish

Is the Url fyi

[t.odd]

sooo, who owns GAS LP? and a mix of Aqualini's and Gaglardi's are on GAS Inc. board? and ADLP is senior Aqualini? what a mess. I do know they're actively working on their environmental permit requirements, fwiw.

[Maximus Farcisimus]

Not quite Whistler, but it looks like Garibaldi at Squamish might be done for:-

A receiver is being appointed after two companies involved in the delayed development of a ski and snowboard resort near Squamish defaulted on loans.

B.C. Supreme Court Justice Paul Walker heard the petition from Aquilini Development LP (ADLP), Garibaldi Resort Management Co. Ltd. (GRMC),and 1413994 B.C. Ltd. on Monday in Vancouver.

They applied for the appointment of Ernst & Young to manage Garibaldi at Squamish LP (GAS LP) and Garibaldi at Squamish Inc. (GAS Inc.).

Walker said he was “satisfied the order should go” and set Jan. 15 as the next court date.

The petition was filed Sept. 22, almost two months after the lawyers for the petitioners demanded immediate payment of the $65 million owing as of May 31, including interest and legal costs.

“GAS has failed or neglected to pay the amount demanded (or any part thereof) to the petitioners,” said the petition.

https://www.castanet.net/news/BC/460...quamish#460759

70M in the hole!

Well that sucks. Really need a resort to the S to suck up some traffic. Woulda provided some great access too.

Maybe they should throw some cash Oberto’s way and get that resort on the go.



Sent from my iPhone using TGR Forums

[The AD]

From Saturday afternoon.

[shirk]

"assigned and transferred all of its interest"

Sounds like a bunch of LLC shuffling so they can squirm out of the debt and leave someone holding the bag.

[Clownshoe]

Garbage conditions today. 50 mm of rain to the Peak overnight. Slush this morning, refreezing throughout the day. More bare patches on the lower mountain. It felt like early May conditions up there today. Not much snow in the forecast. Boooo

On the plus side the rain probably washed away all the buried surface hoar and facets in the snowpack.

(Harmony might open this weekend)

[The AD]

I left yesterday at noon and it was dumping snow all the way down to the valley, but I figured that wouldn't last. Actually some pretty good skiing. I guess I left at the right time. Drive home was a bit soggy.

[LeeLau]

Not terrible. Trees had snow to 1400m

[nortonwhis]

That was from today?

[Clownshoe]

Hell yeah. A couple more cm’s then forecast. Decent

[LeeLau]

That was from today?

Yah - surprised me too. Not even windloading on a small discrete aspect. It's just off Green chair

[Maximus Farcisimus]

Up to 25min to download at Whistler gondie mid today. Without a ski out it might be a pain on the weekend.


Sent from my iPhone using TGR Forums

[KevLar]

Fitz spinning
https://www.carletonlodge.com/whistler-webcam/

[nortonwhis]

Nice. Thats a pretty huge effort to get that running in time for the holidays.

[LeeLau]

Snow is good! It's fast and gets a touch warm as you get to Mid gondie upland. Fun softish cruising

[LeeLau]

And now it's sloppy and warm

[Cono Este]

Rock skis or good skis?

[Maximus Farcisimus]

Rock skis or good skis?

Water?


Sent from my iPhone using TGR Forums

[KevLar]

Does anyone remember when peak alpine opened last Dec 2022? Buddy thinks it was 2nd week of Dec.
I remember Oct/Nov was super dry, then just before Xmas, when Creekside was stalled, we got record snow and cold storms down to sea level.

[Clownshoe]

Peak opening is imminent. My sources say today or tomorrow

[Maximus Farcisimus]

Peak opening is imminent. My sources say today or tomorrow

Well that should keep ya a bit more busy…….w 10/40s


Sent from my iPhone using TGR Forums

[gramboh]

Jeez sounds pretty bleak right now, worse than last week even? Gonna try to push some Xmas vacay days into January and/or mountain bike.

[LeeLau]

GAS court ordered sale pending

https://storeys.com/garibaldi-squami...TX9OmGwsltCH1I

[Clownshoe]

Lee,
Can you decipher the lawyer speak here?

They rearranged the company last week and now they’re going bankrupt? Is this the project circling the drain?

[LeeLau]

Lee,
Can you decipher the lawyer speak here?

They rearranged the company last week and now they’re going bankrupt? Is this the project circling the drain?

Yah they're going bankrupt.

It's not just the Acquilinis and Gaglardis suing themselves. They loaned money to GAS but so did others. GAS hired professional managers who never got things started.

The lawsuit asks for whatever assets are left there to get sold and for money back.

Basically STRONG BUY