Creditors approve Ski Louise deal

August 17, 2001
Source: CBC Calgary
Original story - link verified on August 17, 2001

Creditors voted overwhelmingly Friday in favour of a plan to bail out ski hill owner Charlie Locke and his company, Resorts of the Canadian Rockies. Of the creditors who voted, 97% agreed to a plan which will pay them a portion of the money they are owed. That plan has some creditors receiving up to 25 cents on the dollar. But Locke says all of his secured creditors and more than 40% of unsecured creditors will be paid in full.

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