With the countdown to the Olympic Winter Games in its final stages, there's a troubling report out of New York that the owner of Whistler may be forced into foreclosure just as the athletes start arriving.
The New York Post is reporting that Intrawest, the company that owns Whistler, is in a nasty fight with its main lender that could imperil the games.
Intrawest, which was loaded up with debt in a takeover by Fortress Investment Group, has missed a big debt payment to its main lender. The situation is complicated by the fact that Lehman is in bankruptcy, and its receiver is looking to drum up cash so patience is thin, the Post reported.
On top of that, there's tension between the Olympic organizers and Fortress as they spar over who should pay for what, and Fortress is now making noises about potentially barring the games from Whistler, the story says.
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