When big debts go bad, resorts bid farewell to grand plans

Globe and Mail The Rosseau has everything you'd expect from a high-end resort perched on some of the most desirable vacation property in Canada - glitzy condo units featuring flat-panel televisions and rustic fireplaces, a glamorous spa for massages and pedicures and a huge conference centre available for weddings and board meetings. The only thing the palatial Muskoka, Ont., resort is missing is strong financial commitment from its commercial bankers, who decided to stop funding the project last May amid cost overruns and concerns over declining real estate values.