Olympia & York Developments Ltd. began talks in New York on Wednesday aimed at keeping its U.S. subsidiary out of bankruptcy.

The meeting was still in progress as American Banker went to press. But it appeared the Toronto-based developer was facing another uphill battle.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.