COMMUNITY BUILDER
Donna Billy has been contributing to Squamish for decades
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Financial focus
Advice for getting out of debt
NEW
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THURSDAY, JANUARY 25, 2024
Weekend Forecast Inside
S Q U A M I S H C H I E F. C O M
JUDGE APPROVES PROCESS TO SELL GARIBALDI AT SQUAMISH
The project has been hampered by disagreements between factions connected to the Aquilini and Gaglardi families BOB MACKIN BIV
T
PHOTO BY BRIAN AIKENS
THE TRACK LESS TRAVELLED?: A raven sits on a frosty Squamish rail line. We will be seeing less frost this weekend, as the rain continues and temperatures hit the teens Saturday and Sunday, according to Weatherhood, which has a station on The Squamish Chief’s roof downtown.
NEW LISTING AT THE BREEZE
#202-39767 Government Rd. $849,900
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he three secured creditors for companies behind a delayed Squamish ski resort have made a stalking horse bid of more than $80 million. Aquilini Development LP, Garibaldi Resort Management Co. Ltd. and 1413994 B.C. Ltd. offered $80.41 million for Garibaldi at Squamish Inc. (GAS Inc.) and Garibaldi at Squamish LP (GAS LP), according to a Jan. 15 term sheet. The bid includes $73.45 million of GAS debt to the three companies and $5.93 million in interest. B.C. Supreme Court Justice Paul Walker agreed to their proposal Monday when he gave the green light for the sale and investment solicitation process. Court-appointed receiver Ernst and Young (EY) will begin marketing the project Tuesday with a closing date no later than April 1. The stalking horse bid sets a floor price for competing bids, but will need court approval if it is deemed the winner. GAS Inc. was created in 2001 to convert 2,800 hectares of previously logged forest on Brohm Ridge, GAS: Continued on 5