Yukon turns Dawson golf course debt over to collectors

The Yukon government confirmed this week it has turned over $500,000 in debt from the owner of Dawson City's golf course to loan collectors.

The Top of the World Golf Course's debt is one of two major government loan files outstanding. Both loans came with a three-year amnesty period that expired two months ago, government finance andadministration director Bill Curtis told CBC News.

"The Top of the World Golf Course, unfortunately, has not been able to make payments, and that's been turned over to our collection agent, Dana Naye Ventures," Curtis said Wednesday.

"Meanwhile, the other account, Stewart Valley Enterprises — which operates the Bedrock Motel in Mayo — they've fullfilled their agreement and they're making payments as agreed."

Over the past three years, loan collectors from Dana Naye Ventures have forced other outstanding debtors to pay back a total exceeding $1 million. However, Curtis said the government has not been able to get anything from the golf course in Dawson.

"I don't know what their cash flow has been. They've always claimed that it hasn't been sufficient," he said.

"But we've turned it over to Dana Naye Ventures, who will look at this very closely and will determine what their capability of repayment is before they make a recommendation to us."

Curtis said foreclosing on the golf course would be a last resort, but the collectors are serious about recoupingthe debt.

"It's a lot of money. It is, however, a great contribution to the community and we don't want to be in the business of operating a golf course," he said.

"I am hoping that a suitable settlement will be reached in the near future."

Reached in Dawson on Wednesday, Top of the World owner Bill Hakonson told CBC News, "It's none of your business," and refused to discuss the matter.