Canada oil financier appears set to become ski mogul

June 10, 2001
Source: Yahoo
Original story - link verified on June 10, 2001
By Jeffrey Jones

A prominent Canadian financier known for his stakes in several oil companies emerged on Friday as the likely mastermind behind a rescue package for some of Canada's best-known ski resorts, now under creditor protection after hitting rocky financial terrain this winter. Lawyers for Resorts of the Canadian Rockies, which runs eight top resorts including World Cup-hosting Lake Louise, were in court to present a proposal for a cash injection from an unnamed backer that would allow the operation to continue intact instead of being picked apart and sold off piecemeal. Details of the refinancing and restructuring package and the identity of the investor have been sealed. But a lawyer for one of struggling firm's creditors let slip while addressing a Calgary court judge on Friday that the rescue package was being proposed by Edco Financial, the holding company of Calgary energy mogul Murray Edwards. Edwards is a well-known financier.

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