Tag: Len Barrie

2008 NHL Entry Draft

Former Tampa Bay Lightning owner kicked out of house


It seems 2012 will be a pretty rough year for Len Barrie.

The former Tampa Bay Lightning owner, already being sued by Las Vegas casino Bellagio over a $2 million loan, was evicted from his Victoria, B.C. house on Thursday.

More, from the Globe and Mail:

HSBC Canada, which had mortgages on the 12,500-square-foot house for more than $14-million, finally had to resort to a court order to remove Barrie from the property on Thursday. The bank was supposed to take over the house on Jan. 16 but Barrie and his family were still living there, which prompted the bank to obtain a court order evicting the former co-owner of the NHL’s Tampa Bay Lightning.

“It’s one of those things,” Barrie told CHEK television in Victoria. “It’s disappointing but you move on. Now there’s some closure.

“We finally settled everything with the bank. It’s been three years and everything’s settled.”

This is the latest chapter in Barrie’s staggering fall from grace, but probably not the last. He’s still facing legal problems stemming from Bear Mountain, a failed golf/real estate development that went into bankruptcy in the fall of 2010. A criminal investigation by the RCMP’s commercial-crime unit is underway, a result of a complaint filed by former NHLer (and current Phoenix goalie coach) Sean Burke.

Burke is one of 18 current and former NHL players that lost a total of more than $13 million when Bear Mountain went under. To give you an idea of just how many NHLers were in on the deal, here’s the Globe and Mail’s list of known investors:

Mike Vernon $2-million

(plus $7.6-million loan guarantee with HSBC)

Ray Whitney $3-million

Mike Sillinger $1.4-million

Rob Blake $600,000

Sean Burke $600,000

Trevor Kidd $600,000

Scott Mellanby $600,000

Joe Nieuwendyk $600,000

Gary Roberts $600,000

Brian Savage $600,000

Ryan Smyth $600,000

Brian Carlin $600,000

Wes Walz $500,000

Jeff Finley $300,000

Todd Simpson $300,000

Matt Pettinger $150,000

Rob Niedermayer Unknown

Greg Adams Unknown

In addition to the RCMP investigation, Barrie is also facing “numerous” civil suits related to Bear Mountain.

Vegas casino pursuing former Lightning owner over loan

2008 NHL Entry Draft

Former Tampa Bay Lightning owner and bedhead enthusiast Len Barrie is being sued by Las Vegas casino Bellagio over a loan that, with interest, has reached more than $2 million.

Via Victoria’s Times Colonist:

According to the statement of claim, over the course of three days in May 2008 Barrie negotiated credit at the casino, and provided the casino with 11 “negotiable credit instruments” totalling $1.5 million US to guarantee the loan.

The statement of claim says Barrie agreed to pay 18 per cent interest per annum on the line of credit he was extended at the Bellagio, and further goes on to say Barrie paid back $420,000 US, reducing his debt to $1.08 million.

The Bellagio, citing breach of contract, took court action in March 2011 to collect the $1.08 million after the credit instruments Barrie provided were returned “dishonoured.”

Barrie, meanwhile, is disputing the amount he owes.

“We have a little dispute and we will have to see how this finishes,” he told the Times Colonist. “We don’t agree with the amount. We’ve already paid $400,000, [and] we think the amount should be smaller.

“And when we settle on the amount, we’ll get it paid and will move on.”

It’s not reported whether the funds were used for gambling/buffet purposes or if some of them went towards the purchase of the Lightning. The club was sold to Barrie’s investment group in June of 2008, one month after Bellagio says the loan was negotiated.