Report: Jay Peak and Burke Mountain Will Be Sold Seperately

Report: Jay Peak and Burke Mountain Will Be Sold Seperately

Skiing

Report: Jay Peak and Burke Mountain Will Be Sold Seperately

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Burke Mountain | Photo Credit:

Burke Mountain | Photo Credit: Patrick McCaffrey | Cover Photo: Jay Peak Resort

After the fallout from a “ponzi-like” scheme involving two of Vermont’s premier ski resorts, Jay Peak and Burke Mountain are prepping for a divorce– or so it seems.

Related: Jay Peak Inc. Busted By SEC As A Ponzi Scheme!

In a recent article by The Burlington Free Press, court appointed receiver, Michael Goldberg indicated that he hopes to sell the resorts separately in order to compensate numerous contractors who have been left unpaid following the allegations of EB-5 fraud. Currently, the resorts’ former proprietors, Ariel Quiros and Bill Stenger are facing allegations of using their ski resorts to defraud investors. In the meantime, legal proceedings will have to be fleshed out before moving forward with a potential sale.

“We’ve been told that the current court proceedings underway most likely will take some time to reach a resolution.”JJ Toland Communications Director @JayPeak (*Quote courtesy of The Burlington Free Press)

The resorts have yet to be appraised but their combined value is estimated to be worth millions. According to resort officials, the intent is to sell the mountains to resort groups with “extensive” experience in the industry. Many skier and snowboarders have already speculated that a multi-pass resort group such as Vail Resorts, Powdr, and Peak Resorts are likely candidates to purchase the resorts down the road.

Find the entire Burlington Free Press article here: Jay, Burke resorts to be sold separately

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