Resort assets sold?; Deal to sell Humber Valley Resort assets could be reached by Dec. 18
The Western Star
An agreement has been reached to possibly sell the assets of Humber Valley Resort to a third party.
George Kinsman of the firm Ernst and Young, which was appointed trustee of the resort’s assets after it went bankrupt last December, confirmed via email late Tuesday afternoon that an “agreement has been executed which will see the resort assets sold to a third party purchaser.”
The agreement, which is subject to certain conditions, is scheduled to close on or before Dec. 18.
Ernst and Young approved the sale of some of the resort’s assets last March, including the Beach House building, which had contained a restaurant, three building lots and neighbouring Strawberry Hill Resort.
The other major assets retained by Ernst and Young included the golf course, clubhouse, administrative buildings, the bridge crossing the Humber River, roads and underground infrastructure. Most of the resort’s chalets, including more than 200 finished chalets and several dozen unfinished ones, are already privately owned.
As of press time Tuesday, there were no further details of the latest agreement reached, including who the deal was reached with and how much the selling price is.
A group of chalet owners had made an unsuccessful bid for the assets previously, as had another group led by Brian Dobbin, who founded the resort.