Shangri-La was the second deepest excavation for a building in Canada's history at 102 ft (31 m), with only Scotia Plaza being deeper.
Most of the remaining $235 million is secured by Campeau's 50 percent share in Scotia Plaza in Toronto.
The site of the former Grand Opera House is now occupied by the 68-storey Scotia Plaza in Toronto's Financial District.
The loan's collateral, the 68-story Scotia Plaza in Toronto's financial district, may now be seized.
Northwest entrance connects with the Scotia Plaza and a street entrance from there.
Olympia has missed payments on debts, including a $450 million (Canadian) mortgage on Toronto's Scotia Plaza.
Scotia Plaza is a commercial office complex in the city of Toronto, Ontario, Canada.
The same four banks also have claims against two other neighboring skyscrapers, Scotia Plaza and the Exchange Tower.
Scotia Plaza in Toronto, Ontario, Canada.
This house has been recognized as the most beautiful ever built in Canada, but was torn down in 1946 to make way for the Scotia Plaza.