Intrawest owner wants Ottawa to pay $90M US: report

CBC News

The New York Post reported Monday that the parent of Intrawest ULC, the company which owns one of the venues for the Vancouver Winter Olympics, wants the Canadian government to put up $90 million US before the Games start or it will sue.

The Post reported the parent firm, Wall Street hedge fund Fortress Investments LLC, is negotiating with the Canadian government, which Fortress said had promised to repay its $90-million investment in Whistler Blackcomb. Whistler is to be the site of major alpine skiing events during the Olympics, which start in 11 days.

The report said Fortress wants to get paid before the Games start or it will start legal proceedings. It did not identify its sources.

Read more: http://www.cbc.ca/money/story/2010/02/01/nypost-report-fortress-intrwest.html#ixzz0eIumcTWu
 

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