Creditors OK ski resort plan

August 18, 2001
Source: Yahoo
Original story - link verified on August 18, 2001

Canadian oil mogul was victorious on Friday in his rescue bid for several top ski resorts, including World Cup-hosting Lake Louise, when creditors voted overwhelmingly in favor of his C$120 million ($78 million) plan to lift them from near-bankruptcy. The creditor approval gives Calgary financier Murray Edwards, known for his interests in several oil companies as well as the National Hockey League's Calgary Flames, a major stake in Resorts of the Canadian Rockies, which bills itself as North America's biggest privately owned ski resort operator.

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