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If anyone ever thought it was bad having AIG as the owner of your home
mountain, it must be ten times worse having whatever is left of Lehman Bros.
as a creditor!

On Wed, Jan 20, 2010 at 1:51 PM, Skip King
<[log in to unmask]>wrote:

> From Bloomberg:
>
> Intrawest Lenders Plan Auction of Stakes in Resort Properties
> 2010-01-20 18:42:44.451 GMT
>
>
> By Cristina Alesci
>     Jan. 20 (Bloomberg) -- Creditors of Intrawest ULC, a ski-
> resort operator owned by Fortress Investment Group LLC, plan to
> auction off equity in a unit that controls properties including
> a venue for next month's Olympics, according to a public notice.
>     The Feb. 19 auction by the lender-appointed trustee,
> Wilmington Trust FSB, follows Intrawest's failure in December to
> make the final payment on a $1.4 billion loan used by Fortress
> to finance its leveraged buyout of the Vancouver-based company.
> The notice was published yesterday in newspapers including the
> Wall Street Journal.
>     Buyers will get indirect ownership of property and stakes
> in resorts such as Whistler Blackcomb in Whistler, British
> Columbia, an Alpine skiing site for the 2010 Winter Games, which
> begin Feb. 12. Other properties include Mont Tremblant in
> Quebec, Stratton in Vermont and Squaw Valley in California,
> according to the notice.
>     Lilly Donohue, a spokeswoman for New York-based Fortress,
> didn't immediately return a telephone message seeking comment.
> William Benintende, a spokesman for Wilmington, Delaware-based
> Wilmington Trust, declined to comment.
>
>
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-- 
"I'm a simple man, Hobbes."
"You?? Yesterday you wanted a nuclear powered car that could turn into a jet
with laser-guided heat-seeking missiles!"
"I'm a simple man with complex tastes."

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