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Traveller's Inn bankruptcy


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#121 Jill

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Posted 08 August 2009 - 08:35 AM

And I thought "the poor and orphans in Africa" had it bad before....

#122 manuel

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Posted 08 August 2009 - 09:06 AM

Going to be interesting on the 21st.

Too bad Carla didn't asked Asfar the specifics of what the 70 million in equity is. Seems more than a bit funny that he's willing to give away that amount of money over what seems to be 3-4 million owing to CRA.

#123 spanky123

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Posted 08 August 2009 - 09:25 AM

Going to be interesting on the 21st.

Too bad Carla didn't asked Asfar the specifics of what the 70 million in equity is. Seems more than a bit funny that he's willing to give away that amount of money over what seems to be 3-4 million owing to CRA.


Well I think that it is a given that there is not $70M in equity. Throwing away $70M to spite $4.5M that he owes the CRA for GST THAT HE COLLECTED BUT NEVER REMITTED (my understanding reading the media reports) is too far off the wall.

#124 riversticks80

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Posted 10 August 2009 - 08:13 AM

I thought this article was hilarious. As for $70M in equity, I agree that it seems a little far-fetched, especially considering how much he owes in mortgages and to the CRA. He owes more than back GST to Revenue Canada, he also owes back payroll remittances as well. I wonder if he even pays his corporate taxes!! He still owes past employees money as well so in the end I doubt he will have much money to be "donating".

#125 gameterrain

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Posted 10 August 2009 - 11:23 AM

I'm an employee with Grant Thornton at the Traveller's hotels.

I've been reading with interest the articles in the Times Colonist by CJ Wilson. It's good to have an idea of some of the stuff that's going on in the background when no one talks to you anymore.

Yes our last cheques from TI bounced... not everyones but a good deal of them apparently... the truly awful thing was that the replacement cheques to take care of the mistakes for the bounced cheques bounced as well.

We are still owed money for our final paydate but according to popular rumour John Asfar refused to pay us because it wasn't his responsibility anymore. He stated that the Receiver now was responsible for disbursing the payments to us.

Work for Grant Thornton is fine... they have treated us fairly so far and have listened to our requests for improvements to the locations under their care. We've even been paid on time which is lovely.

John Asfar's latest missive to the TC was really interesting... I had to kinda scratch my head at what he's been saying. I'm not sure if all he says is going to be true but he's an entertainer that man... never a dull moment around him I'm sure.

I'm not going to say that the quality of my hotel has changed since Grant Thornton has taken over but business is up and we're trying really hard to make the guests happy. If you're looking for a decent place to put your head down for a reasonable rate we're offering 79.95 for singles and 89.95 for two beds. (sorry for the advert but we need to get our occupancy up) Our staff is overworked but finally paid and we're a happy lot now... just keep us in business and we'll be even happier campers.

thanks all.

#126 Bob Fugger

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Posted 10 August 2009 - 11:58 AM

^^ Nevermind, just re-read it, LOL!

#127 Caramia

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Posted 10 August 2009 - 02:35 PM

Hi Gameterrain,

First - Welcome! I hope you will find lots to post on now you've started!

Second - That's great news from the frontlines. I'm glad staff are finally being paid! Grant Thornton has always been a class act company as far as my dealings with them are concerned, so I am not surprised they are taking care of you guys, but I didn't know TI was still open and that GT was keeping the business going! Thanks!
Nowadays most people die of a sort of creeping common sense, and discover when it is too late that the only things one never regrets are one's mistakes.
Oscar Wilde (1854 - 1900), The Picture of Dorian Gray, 1891

#128 Bob Fugger

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Posted 11 August 2009 - 10:14 AM

Does anyone know the status of TI Executive Limousine? My colleague got a gift certificate for a wine tour awhile back and just called to book it. He said that he called and that the call went to voice mail, but it was full. I wonder if the limo business is part of GT's receivership arrangement and if they plan to honour prior arrangements?

#129 VicHockeyFan

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Posted 11 August 2009 - 10:34 AM

Does anyone know the status of TI Executive Limousine? My colleague got a gift certificate for a wine tour awhile back and just called to book it. He said that he called and that the call went to voice mail, but it was full. I wonder if the limo business is part of GT's receivership arrangement and if they plan to honour prior arrangements?


Last week I walked by TI on Queens, very early ie. 6 or 7am and there were no limos parked.

#130 spanky123

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Posted 11 August 2009 - 12:54 PM

Since John has now stated that his intent is to sell everything and move to Africa I would suggest that you use up any gift certificates ASAP!

#131 Bob Fugger

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Posted 11 August 2009 - 12:58 PM

Since John has now stated that his intent is to sell everything and move to Africa I would suggest that you use up any gift certificates ASAP!


Yeah, that's what I told my buddy - but when he called, the phone rang to a full voicemail box. I told him that he should reconcile himself to being S.O.L and be grateful that it was a gift, and not something he purchased.

#132 gameterrain

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Posted 11 August 2009 - 03:42 PM

While I'm not positive I do believe that all Limos, company vehicles and the shuttles (guessing on this one) have all been repo'd. Some of the executives were seen driving their Beemers and such and then suddenly they were back to their original vehicles. I was told that John Asfar had failed to keep up the payments and the vehicles had to go back. Not strictly from the horses mouth but from two reliable individuals.

If your friend is really curious I'd forgo calling the limo service and try going through the traveller's website at www.travellersinn.com and then see if they provide a contact us email. Even if John Asfar is really going to sell of his posessions I'm sure he doesn't want word of mouth to sour any more than it has now.

I actually did a quick call and the Wine Tours are not active right now. This was confirmed by staff at Queens. Tell your friend to contact Traveller's head office at 250 477 1000 and ask for Yoshimi. She says that she'll get info on the gift certificate and then talk to the higher ups and she suggested perhaps they'd be able to provide something of equal or greater value to take it's place.

Good luck.

#133 Bob Fugger

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Posted 11 August 2009 - 05:11 PM

^^Thanks for doing that digging, I really appreciate it. Good luck over there.

#134 travelersrefugee

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Posted 17 August 2009 - 10:27 PM

any news on employees recovering monies owed as of August 16?

#135 spanky123

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Posted 18 August 2009 - 06:07 AM

any news on employees recovering monies owed as of August 16?


You should check with the receiver. I think that vote on John's proposal is the 24th.

#136 riversticks80

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Posted 18 August 2009 - 08:49 AM

I think those that are under receivership are still getting paid for their work performed. However, these employees still have not received the pay they were owed for work from July 1st to July 20th. I know a few people have pretty much gave up hope of ever seeing the money they are owed for that period of time plus their accrued vacation pay.

#137 gameterrain

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Posted 18 August 2009 - 11:43 AM

I think it's actually Friday the 21 of August that they are gathering to consider John Asfar's proposal for repayment... which involves if what I've been told is correct... him being allowed to run all his business's for the next 6 months with access to all the cash generated and at the end of that time... he'll sell all the businesses and pay everyone what is owed.
Those under receivership do get paid but we're paid by the receiver. I really feel for those who've gone down recently... it's not a pretty thing. Ocean Grand Resort and City Center both went under receivership on last thursday I think. I was told the judge signed the papers for seizure without notice... they took OGR first and then when they arrived at City Center they were confronted by John Asfar who said they couldn't do this... in return I believe they told John Asfar that he was illegally on property and could he please leave.
If the employees owed the money for wages have filed with the labour board then they'll at least have some representation at the August meeting... the labour board said they'd send someone to watch out for our interests.
The other thing for wage recovery I've been told about is a new govt program that will allow us to get our money back... the receiver has to file for access and then you give details to the receiver about the money owed... and the receiver can apply for the wages to be repaid. I think John Asfar could do this as well but does anyone honestly trust him to be honest? (I can say that can't I?)

#138 spanky123

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Posted 18 August 2009 - 01:21 PM

If your information is correct then I can't see anyone accepting John's proposal. They are far better off to let the receiver sell everything and take the cash.

I can't see any benefit in letting Asfar run everything for the next 6 months when the last 6 haven't been that great!

#139 Sparky

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Posted 20 August 2009 - 08:57 PM

I agree with you Spanky. I will be at the creditor's meeting tomorrow. I will keep you posted. Can you help me out with a link to the web site that shows the number of lawsuits against Asfar?

#140 Sparky

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Posted 21 August 2009 - 12:24 PM

Friday update. The unsecured creditor's meeting was adjourned to September 8 so that the receiver could provide more information.

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