G-Force Group is pleased to announce that the Mount Baldy ski resort has been rescued from the Insolvency Grinch who stole it from its ski communities just before Christmas last year and 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 Dec. 18, 2014.
The receiver-manager promptly entered into an operating agreement with Mr. Johnston’s company, Baldy Operating Corporation, to operate the ski resort for the current season. Matt Koenig will 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 it’s plans for the current season can be obtained from www.skibaldy.com.
