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mtn world update

Mountain World receives no bidders By Paul Andrew As of Wednesday, June 23, the 19,000 square feet of space once occupied by Mountain World Entertainment had remained virtually untouched since the company went bankrupt June 3. Jervis Rodrigues, vice president of Deloitte & Touche and the trustee in bankruptcy for Mountain World, would not rule out the possibility of another company taking over the space and its contents, but said last week no bidder had come forward. Rodrigues would not be specific in his assessment of the situation. He said there was no official deadline for a buy-out, but any offer would have to be made quickly to avoid liquidation. "I haven’t been talking to anyone, but by June 25 we’ll probably know what we’re going to do there," Rodrigues said last week. "It’s a process we’re going through. The media hasn’t been very helpful so I’m not prepared to divulge any other information." There has been lots of speculation locally regarding the future of Mountain World, and who may or may not take it over, but Rodrigues wouldn’t confirm or deny anything last week. "I won’t say nobody is interested," Rodrigues said. "Just that there’s no real deadline. You’re best to follow up next week." The June 3 meeting of creditors where Mountain World’s president Glenn Fawcett made a proposal to all unsecured creditors was unsuccessful because it failed to gain the support of the Whistler Resort Association, which leased the space to Mountain for 18 months and received no rent during the course of Mountain World’s tenancy. In a June 8 press release, Deloitte & Touche said there will be no dividend distribution to unsecured creditors of Mountain World Entertainment. The information was considered preliminary because the meeting occurred five days after the assignment of bankruptcy.

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