The Whistler-Blackcombe resort, where the Alpine events such as snowboarding and ski-jumping are being held, could go into foreclosure this week, smack dab in the middle of the Olympics, and be owned in part by the now defunct Lehman Brothers, one of its creditors.
Whistler Blackcombe is one of several ski resort properties owned by Intrawest.Others include Steamboat and Stratton. The company is in deep financial straits and missed a debt payment of more than $500 million in December. The lenders have given Intrawest a deadline of this Friday to come up with the money, or they say they will foreclose.