Skiing Louise bailout OK'd

August 18, 2001
Source: Calgary Herald
Original story - link verified on August 18, 2001
By Scott Haggett

Despite some misgivings, creditors of Skiing Louise Ltd. voted overwhelmingly in favour of a plan that sees Calgary financier Murray Edwards bail out the company and take control of some of skiing's crown jewels. In a Friday vote on a rescue plan that sees most lose close to 75 per cent of what they're owed, creditors voted 97 per cent in favour of accepting the package. "We had to take the offer," said Evelyn Cutts, the mayor of Fernie, B.C., where Skiing Louise owns the Fernie Alpine Resort and owes the town for sewage services. "This has really put a strain on our small business people.

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