Takeover bid for "continued progress" on Garibaldi at at Squamish adjourned after province opposes motion

Editor’s note March 17: A previous version of this story incorrectly stated the takeover bid was approved. In fact, the matter has been adjourned and Garibaldi at Squamish’s takeover is not finalized

BC’s provincial government stepped in to stop the takeover of a company set on creating a new ski resort in the Sea to Sky region.

Garibaldi at Squamish was set to change hands March 15 according to a proposed insolvency motion posted online. But representatives from the province showed up to court opposing the motion, according to the communications officer for the BC Superior Courts.

The matter was adjourned, and is to be decided at a later date.

The insolvent Garibaldi at Squamish project was more than $73 million in debt, and was set to be taken over by Aquilini LP, Garibaldi Resort Management Company Ltd., and a numbered company.

The purchasers submitted a Stalking Horse Bid of $80 million earlier this year. Insolvency documents indicated it was the highest bid on the table.

“The Stalking Horse Agreement ensures continued progress towards a new resort in southwestern British Columbia,” court documents posted online this week read. “It is expected that this progress will lead to continued and future sustained economic benefit in the region.”

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Garibaldi at Squamish was incorporated back in 2001 to develop a world-class ski resort on Brohm Ridge near Squamish. The project dropped ambitious renderings and got conditional environmental approvals from the provincial government as long as construction started by January 2026.

Garibaldi at Squamish’s cost estimates pegged the project at $3.5 billion, creating 1,600 acres of skiable terrain.

It’s not yet known what the next steps for the proposed resort will be, though the purchasers believe the takeover is the best way to keep the idea alive.