Hang together: Olympia & York
Article Abstract:
Olympia and York Canary Wharf Ltd is faced with mounting losses, and it is currently negotiating with lenders to restructure its debt. Debt now stands at $14.3 billion in Canadian dollars. Olympia and York may be optimistic in its assets valuation of $5.5 billion Canadian dollars.
Publication Name: The Economist (UK)
Subject: Business, international
ISSN: 0013-0613
Year: 1992
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Lessons of Canary Wharf
Article Abstract:
The failure of the Canary Wharf development not only shows mistakes of commercial judgement, but also shows poor public policy. The British government's London Dockland's project, which exempted developers from property taxes, encouraged overdevelopment of the area.
Publication Name: The Economist (UK)
Subject: Business, international
ISSN: 0013-0613
Year: 1992
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Scramble: Olympia & York
Article Abstract:
Creditors for Olympia and York's apartment building are trying to control their losses. The creditors were told that revenues from rents would not pay for the $548 million in bonds that they hold for the apartment building.
Publication Name: The Economist (UK)
Subject: Business, international
ISSN: 0013-0613
Year: 1992
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