Gateway Travel Centre faces foreclosure over $5.4M debt, bank says

The Gateway Travel Centre is tough to miss on the Trans-Canada Highway in Dallas ? and it's apparently in financial ruins.

Court documents obtained by KTW show Canadian Western Bank has commenced foreclosure proceedings against the large truck stop on the eastern edge of Kamloops.

The documents, filed in B.C. Supreme Court on Monday, Aug. 13, claim the travel centre owes the bank more than $5 million.

The bank also claims the truck stop has failed to pay its property taxes for the last two years, resulting in $282,218.76 owing to the City of Kamloops.

Listed as owing are Gateway Travel Centre Inc., Billy Miner's Roadhouse Inc., Gateway Industrial Park, Alkam Holdings Ltd. and Anglemont Holdings Ltd., as well as Randy Durante, Drinda Rainville and Glen Thompson.

There is also a John Doe named on the document, described as "a tenant." It is believed the tenant is related to the Denny's restaurant that recently opened at the travel centre in place of Billy Miner's Roadhouse.

According to the document, the bank is owed $5,384,415.13 on a $6.1-million mortgage taken out in 2009.

The bank states interest is accruing on the debt at a rate of nearly $800 each day.

In the document, the bank says it's hoping to have a receiver appointed to take over the property until it can be sold.

KTW also obtained a copy of a letter sent by Rainville ? one of the individuals listed on the court document ? to the City of Kamloops on June 15, 2012.

In it, she claims to have paid $60,247.05 for her 2012 property taxes. She also asks the city to think about lowering business-tax rates.

KTW tried unsuccessfully to contact Rainville, Durante and Thompson.

The alleged debtors have yet to file a response.

None of the allegations have been proven in court.

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Source: http://www.kamloopsthisweek.com/news/166454906.html

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