Thank you, Mr. Speaker. Obviously this is a difficult situation, but I think it's going to eventually be a good-news story going forward for the industry. We know that aurora visitation numbers have declined drastically, after 9-11 and other geopolitical events: the war in Iraq, there was also SARS and a number of events I think Mr. Braden has alluded to. Things have been a little more difficult since then, obviously. I think things are starting to turn around. I'm hopeful; I'm optimistic. Obviously this company had a couple of choices to make while things were improving. I think they felt that there was just too much to overcome, so they filed for protection from creditors under the Bankruptcy and Insolvency Act. Hopefully a workable business model will emerge from that. Obviously our exposure as a territory is twofold. There are a lot of people employed in this industry. We want to see it successful. We want to see it back up to pre-9-11 levels and even better in the years beyond. There are a lot of businesses that rely on this tourism. There are a lot of people whose jobs are at stake if the tourism sector isn't viable. As well, we are also a creditor, as the Member knows, so there is financial exposure in that respect, and obviously I have an interest in seeing us protect the public purse. Thank you.
Brendan Bell on Question 167-15(3): GNWT Involvement In The Aurora World Corporation
In the Legislative Assembly on May 28th, 2004. See this statement in context.
Return To Question 167-15(3): GNWT Involvement In The Aurora World Corporation
Question 167-15(3): GNWT Involvement In The Aurora World Corporation
Item 6: Oral Questions
May 27th, 2004
Page 598
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