Oliver ski resort's future is up, then down | iNFOnews | Thompson-Okanagan's News Source

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Oliver ski resort's future is up, then down

The future of Mount Baldy Ski Resort is once again in doubt after the ski hill's current operator and its creditors could not come to agreement this week.
Image Credit: Contributed
November 06, 2015 - 4:30 PM

PENTICTON - The status of a South Okanagan ski resort appear headed downhill once again.

Less than a month after Mount Baldy Ski Resort announced it was making preparations to open the hill, even announcing an opening date, the resort has posted notice on it’s website page saying it is once again in jeopardy of not opening for the season.

The notice states a Memorandum of Understanding between the ski resort’s creditor and Baldy Capital Corporation made in December last year has never been formalized into a purchase agreement for the resort, located approximately 18 kilometres east of Oliver.

A “compromise” proposal with a “drop dead” deadline for acceptance, set at November 4 at 4 p.m. has since come and gone. Baldy Capital Corporation was prepared to open the ski hill for the season, even without a completed purchase agreement, but ran into problems getting insurance.

The Baldy Capital Corporation notice concluded by saying, “Although it is still within the company’s ability to open and operate the ski hill for the season as planned, the window of opportunity is now rapidly closing and control of that decision is now out of the hands of the company, as the parties are now deadlocked. Although the company is evaluating all alternatives it is unable to say with certainty what can be achieved in time for this season.”

To contact the reporter for this story, email Steve Arstad at sarstad@infonews.ca or call 250-488-3065. To contact the editor, email mjones@infonews.ca or call 250-718-2724.

News from © iNFOnews, 2015

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