LeBreton’s Life Support Extended

With the two warring partners in mediation, the deadline has been extended

The clock has been pushed back on the expiration date for the LeBreton Flats deal.

Shortly into the new year with the original January 19th date quickly approaching, the two sides entered another round of mediation in hopes of salvaging the deal. While the problems haven’t been solved yet, things have apparently gone well enough for the mediator to ask for, and receive, an extension from the NCC.

The NCC had previously left the door open to stop the termination of the deal if the two sides resolved their internal issues in time.

Beyond the potential for the deal to be salvaged, this also gives the NCC the opportunity to complete it’s leadership change - Mark Kristmanson is scheduled to hand over the reins to incoming CEO Tobi Nussbaum on February 4th. Previously, major decisions about LeBreton were going to be made at the January 24th board meeting.

The only other piece of information about the mediation came as a bit of a surprise, in the form of an extra seat at the table:

Your guess is as good as mine for what role they’re playing in the mediation, but it’s hard to see them being involved if there weren’t the potential to be cut into the deal in some form.

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