As a concerned citizen I am writing this letter to all citizens, business owners, the MLA, Mayors and Councils of the Shuswap Lake area regarding the foreclosure of Waterway Houseboats Ltd. It is of great concern what the legal and banking system has done to the citizens, businesses, customers, suppliers, and actual individual boat owners in care of Waterway houseboat management. The legal system was very inconsiderate in awarding an inadequate settlement to Waterways and the CIBC bank in foreclosing immediately after the settlement was awarded.
The foreclosure by the bank, and the effect of closing the operations of the facility operated by Waterway will have a great effect on not just boat owners, but the entire community and the tourism that the area depends and benefits from. The bank should have realized this and taken into consideration the many business owners, boat owners, employees, the thousands of customers and the entire area surrounding Shuswap Lake and it’s communities. It does not seem that they did.
This situation is and will be causing further foreclosures, individuals and families leaving the area and the many tourists not coming and investing their money and time here.
My suggestion is that we the public and business owners in the area ask that the CIBC withdraw its foreclosure on Waterway immediately or give the boat owners and the communities time to form a Co-op or other organization to take over the assets or to keep the Marina operating to get the citizens, employees and boat owners back to business and we ask the CIBC to support this action 100%. We could ask them to delay its foreclosure, or simply to work with the greater communities to keep the Marina get operational, such as by allowing time to form the Co-op to help preserve the communities.
If this doesn’t happen I would suggest the citizens, business owners, and people affected by the judicial and CIBC’s actions should boycott and/or move their banking business elsewhere to show their support.
I would also suggest the mayors and councils of the Shuswap Lake area along with the MLAs should take the initiative in this situation to find a solution to this most devastating occurrence.
Concerned Citizen
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