Vancouver-based G-Force Group, the receiver appointed by B.C. Supreme Court, has announced in a press release that the Baldy Capital Corporation had failed to purchase the mountain out of receivership.

G. Powroznik Group Inc., of G-Force Group, was appointed Receiver-Manager of Mount Baldy Ski Resort Corporation and related companies (“Receiver”) by the Supreme Court of British Columbia on December 19, 2014. The Receiver’s primary objective was to find a buyer who would be able to operate the resort for the 2014/15 season and acquire the assets. Since a potential purchaser and operator had already been found, the Receiver promptly entered into an operating agreement with the prospect to operate the ski resort for the 2014/15 season.

 

Unfortunately this initial prospect has been unable to follow up with an acceptable offer to acquire the assets or provide for an acceptable plan to operate the resort for this season.

 

However, the Receiver has pursued several other interested parties in an effort to attract a buyer/operator to acquire the Mount Baldy Ski Resort in time for the 2015/2016 season. The Receiver has recently received an offer from another party. Both parties are actively making a great deal of effort to complete a deal as soon as possible.

 

Although it is late in the season to reopen the ski resort, one of the benefits this prospective party sees is the significant support demonstrated to the Receiver and in the media from the local communities who support Mount Baldy including skiers, local nearby home owners, businesses, former employees and the OIB.