G-Force Group is pleased to announce that Mount Baldy ski resort has been rescued from the insolvency Grinch who stole it from its ski communities just before Christmas last year
The resort is scheduled to reopen early in January.
G-Force Real Estate Inc. was appointed marketing agent in mid July 2014 by a secured creditor who had received conduct of sale from the Supreme Court of British Columbia. G-Force’s primary objective was to find a buyer who would be able to complete an acquisition in time to operate the resort for the 2014-15 season.
Although an earlier sale initiative in October failed, another prospect, Fred Johnston from Calgary, soon after made an offer to manage the resort for the current ski season and acquire it at the end of the season.
In order to complete these transactions, G. Powroznik Group Inc., of G-Force Group, was appointed receiver-manager of Mount Baldy Ski Resort Corporation and related companies by the Supreme Court of British Columbia on December 19, 2014. The receiver-manager promptly entered into an operating agreement with Johnston’s company, Baldy Operating Corporation, to operate the ski resort for the current season.
Matt Koenig will continue to serve as mountain manager.
A related company, Baldy Capital Corporation, arranged the interim financing for this year’s operations as an interim step for it to acquire the assets of Mount Baldy Ski Resort from the receiver-manager by the end of the current season.
Further details of Baldy Operating Corporation and its plans for the current season can be obtained from www.skibaldy.com .
G-Force Group would like to acknowledge the efforts of many people in the South Okanagan communities who actively supported G-Force’s efforts to find an operator and financing for the current year. This includes Matt Koenig, Myers Bennett, president of the South Okanagan Chamber of Commerce, Mary Ellen Heidt of Community Futures, representatives of the Osoyoos Indian Band and many of the media in the Okanagan for keeping the local communities aware of the efforts to find a buyer and operator.
