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Lightning's Koules Nears Completion Of Plan To Buy Out Barrie
Published September 2, 2009
|Koules Close To Buying
Out Barrie's 35% Share
BEAR ESSENTIALS: Barrie serves as Bear Mountain Resort President & CEO, and Scott Bye, a financial adviser to a group of NHL players who was appointed to the Bear Mountain Resort Exec Committee "after the players became concerned about its finances," yesterday said Barrie owes Bear Mountain between C$16-20M. Barrie on Monday said that "all of the money in question was either paid back or accounted for, following a damning report by the company's auditor," but Bye said that "this was not true." Barrie "insisted again yesterday that he did nothing improper," saying that his debt to Bear Mountain is C$5M, not as much as C$20M. Barrie: "The number was five and it's been paid back" (GLOBE & MAIL, 9/2). Barrie said the charges he misappropriated funds at the resort are "B.S." Barrie: "It's real funny when you're close to almost getting a deal done, and something like this comes out." Barrie on the Bear Mountain Web site wrote, "The report being referenced ... is consequently nine months old, and the issues and concerns raised in the report have all been reviewed and addressed with Bear Mountain Resort's executive committee and investors" (ST. PETERSBURG TIMES, 9/2).