Resort under creditor protection

Company will continue to operate while they restructure

The parent company of Nanoose Bay’s Pacific Shores Resort and Spa has been granted creditor protection by the BC Supreme Court.

In an announcement made Oct. 26, AviaWest reported the court decision was made Oct. 24. Under the order, AviaWest, which also owns the Parkside in Victoria, will continue to operate and create a restructuring plan under the court-appointed monitor, Grant Thornton LLP.

Grant Thornton LLP will be monitoring the claims process. Creditors will be able to submit a claim supporting the amounts owning to them, including any amounts owning as of Oct. 24, 2011. AviaWest states in a media release that the claims process will take two to three weeks.

Grant Thornton LLP, stated the company, will also ensure the AviaWest Resort Group “meets all of its financial obligations for operational costs from the date of filing forward.”

“We sincerely regret any hardship or challenges this situation may cause you and your business,” said the media release. — Submitted/AviaWest

 

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