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Intrawest ULC said Thursday it was still in talks with its lenders to refinance a term loan after a report that the ski resort giant may default on a US$1.4-billion loan.</p><p>The report Wednesday, the day the payment was due, said Intrawest may be pushed closer to default if it failed to make the US$524-million payment.</p><p>The Vancouver-based company issued a statement on Thursday that said it continued to be in "active dialogue" with its lenders.</p><p>"It is business as usual for Intrawest and we are providing our customers and homeowners with the memorable experiences that they have come to expect when they visit our resorts," CEO Bill Jensen said in the statement.</p><p>Intrawest spokesman Ian Galbraith declined to comment further.</p><p>The company, which operates some 2010 Winter Olympics venues, is owned by New York private equity firm Fortress Investment Group LLC.</p><p>VANOC's deputy CEO and executive vice-president, Dave Cobb, said in a statement that the Vancouver Winter Olympic Games, which will be hosted at the ski resort's Whistler Blackcomb property, will not be affected.</p><p>"Whistler Blackcomb is an important partner in the staging of the 2010 Games and we continue with solid progress in our planning with them for the skiing and sliding sport events," Cobb said.</p><p>"...The issue will not impact the staging of the 2010 Olympic and Paralympic Winter Games," he said.</p><p>Intrawest has been struggling financially since it was bought by Fortress in 2006 for US$2.8 billion in cash and assumed debt.</p><p>The deal was a leveraged buyout with a $1.7-billion loan which came due last fall, when the financial meltdown hit.</p><p>Fortress scrambled to refinance the loan after Intrawest, which holds the debt, was pushed to the brink of creditor protection.</p><p>In November, Intrawest said it agreed to sell one of its resorts at Copper Mountain, Colo., to American mountain resort company Powdr Corp. for an undisclosed amount.</p><p>Earlier in the year, Intrawest sold two of its resorts in France to holiday company Pierre et Vacances. 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