From Times Staff and Wire Reports

Olympia & York Gets a Reprieve: The Toronto-based developer's Canary Wharf project in London averted collapse when the company persuaded lenders to provide an extra $38 million to keep the development going while an overall debt restructuring is negotiated. The extra financing, which Olympia & York said will cover "the coming weeks," was agreed to at the last minute, took days to negotiate and fell short of the developer's requests.

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