03/23/2010 05:12 am ET | Updated May 25, 2011

Intrawest Auction Set For Middle Of Winter Olympics In Vancouver

Two lenders -- Lehman Brothers and Davidson Kempner - have begun foreclosure proceedings against Intrawest Holdings, owner of Whistler and several Colorado ski areas, for failure to meet a $524 million debt payment, according to the Toronto Globe and Mail.

Intrawest, once North America's second largest ski resort operator behind only Vail Resorts, sold Colorado's Copper Mountain ski area in November but still owns Steamboat ski area and manages Winter Park for the city and county of Denver.

Read more on The Colorado Independent