The Hermitage Club In Vermont Has Gone Into Chapter 7 Liquidation
The Overgrown Sign At The Mountain's Entrance - Credit: Tim Meyer/Ski Rex Media |
In a report from The Brattleboro Reformer, a judge has granted the conversion of the bankruptcy case to Chapter 7, allowing for the liquidation of assets from the now-closed private ski mountain.
In a statement provided by email from Tim Treanor, a member of the Ad-Hoc Committee of Members;
The Overgrown Entry To Haystack Credit: Tim Meyer/Ski Rex Media |
If there is no funding provided for that sale process, the foreclosure brought upon by Berkshire Bank will be allowed to continue. At that time the bank will take possession of specific assets. Any remaining assets will be sold "on the courthouse steps so to speak (meaning no expenditures on marketing the sale, etc., just minimum notice through media notices)," Treanor has said.
If there are any readers looking to invest in what may come out of the defunct ski resort, one should keep their eyes open. As stated, there may not be much notice of the liquidation, though several good deals for buyers may come out of it.
Comments
Post a Comment