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Client Work

PricewaterhouseCoopers is appointed receiver of K2 Developments

Fasken
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Overview

Client

PricewaterhouseCoopers LLP

On October 7, 2008, PricewaterhouseCoopers Inc. (PwC) was appointed Receiver of K2 Developments Ltd. pursuant to an Order of the Court of Queen's Bench of Alberta, Judicial District of Calgary. At the time pf PwC's appointment, K2 had defaulted on approximately $50 million in debt. K2 Developments was developing the $135 million Solara Resort & Spa in Canmore, Alberta, with 214 one- two- and three-bedroom resort suites. In June 2010, Court of Queen's Bench of Alberta approved an offer made by Bellstar Hotels and Resorts and its financial partners. PwC is being advised in these proceedings by Fasken Martineau with a team led by John Grieve and including, among others, Rinus de Waal, Michael Loberg, Stuart Blyth, Gary Rose and Sheldon Good.

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