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Utah-based company wins auction to buy Jay Peak in Vermont
Legal Line News |
2022/09/08 13:11
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Utah-based Pacific Group Resorts, Inc., which owns five ski resorts, has won the auction to buy Jay Peak Resort, the Vermont ski area that was shaken by a massive fraud case involving its former owner and president.
The court-appointed receiver who has been overseeing Jay Peak for more than six years announced Thursday the results of Wednesday’s auction, with Pacific Group Resorts making the highest and best bid among the multiple bidders. The offer was not disclosed.
“We are pleased an experienced operating company like Pacific Group Resorts ended up with this great asset,” receiver Michael Goldberg said in a statement.
A federal court must approve the bid and a hearing is tentatively scheduled for Sept. 16, according to Goldberg. The sale is expected to close before the upcoming ski season, Goldberg said.
Pacific Groups Resorts, which owns Ragged Mountain Resort in New Hampshire and Powderhorn Mountain Resort in Colorado, as well as properties in British Columbia, Virginia, Maryland, had originally offered to buy Jay Peak for $58 million. Goldberg wanted to be able to continue to market the resort, and if there were qualified bids to hold an auction “in order to assure the highest and best offer,” according a court filing last month.
Vern Greco, PGRI’s president and CEO, said the company started pursuing the acquisition over three years ago.
“Jay has a high quality team of dedicated employees who have weathered the uncertainty of the receivership for a long time,” he said in a statement. “We look forward to bringing renewed stability to the property and its staff, we’re enthusiastic about the prospects for the resort, and we are delighted to be in Vermont which is an important market for any mountain resort operator.”
Former Jay Peak owner Ariel Quiros, former president William Stenger and Quiros’ adviser William Kelly were sentenced this spring to federal prison for their roles in a failed plan to build a biotechnology plant using tens of millions of dollars in foreign investors’ money raised through a special visa program.
The U.S. Securities and Exchange Commission and the state of Vermont also alleged in 2016 that Quiros and Stenger took part in a “massive eight-year fraudulent scheme” that involved misusing more than $200 million of about $400 million raised from foreign investors for various ski area developments through the same visa program.
They settled civil charges with the SEC, with Quiros surrendering more than $80 million in assets, including Jay Peak and Burke Mountain ski resorts.
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Louisiana Supreme Court’s chief justice reelected
Legal Line News |
2022/07/25 12:01
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The chief justice of the Louisiana Supreme Court has won re-election to another 10-year term.
Chief Justice John Weimer was automatically reelected when nobody signed up to challenge him by Friday’s qualifying deadline for the Nov. 8 ballot, The Advocate reported.
Weimer, 67, a former professor at Nicholls State University, first won election to the state’s high court in 2001. He won reelection in 2002 and 2012. In the latter race, he ran unopposed and returned campaign checks to contributors to his campaign.
On Wednesday, he was one of the first candidates to pay the qualifying fees and file the paperwork for the fall election. Weimer’s current term ends Dec. 31.
U.S. District Judge John deGravelles of Baton Rouge lifted a stay July 13 that had blocked the November election for the state Supreme Court’s 6th District, which Weimer represents. The stay arose out of a lawsuit filed in 2019 by the NAACP.
The lawsuit contends that two of the seven Supreme Court districts should have a Black majority in a state where about one-third of the state’s residents are African American. Only one Supreme Court district currently has a Black majority, the one represented by Justice Piper Griffin in New Orleans.
The 6th District, with about 600,000 residents, consists of 12 coastal parishes: Assumption, Iberia, Lafourche, Plaquemines, St. Bernard, St. Charles, St. James, St. John the Baptist, St. Martin, St. Mary, Terrebonne, and a portion of the west bank of Jefferson.
The federal court had stopped all Supreme Court races in May. Only Weimer was up for reelection this year. Justices run in staggered terms every two years. The next justice is not on the ballot until 2024.
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Retired judges will hear divorce cases to clear backlog
Legal Line News |
2022/03/25 16:29
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The Maine court system will assign retired judges to divorce proceedings to clear a growing backlog of more than 6,000 cases that have been delayed since the start of the coronavirus pandemic.
The program began last week and will assign the former judges as referees to divorce cases where both sides involved have lawyers. The referees would work to resolve the cases without a trial, The Bangor Daily News reported Tuesday.
“The goal is to add capacity in the short term to allow us to address the backlog without adding work to existing personnel,” Chief Justice Valerie Stanfill said.
Judges who volunteer as referees will be paid the same full-day $350 stipend amount as other active retired judges who work in the court system.
According to Alyson Cummings, an employee for the administrative office of the courts, the cost of the program and the number of cases the judges will handle have not been determined yet.
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Kansas AG asking judge to dismiss redistricting lawsuits
Legal Line News |
2022/03/09 10:26
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Attorney General Derek Schmidt is asking a Wyandotte County judge to dismiss two lawsuits filed over new Kansas congressional district lines enacted by Republican lawmakers.
Schmidt’s request Monday came three days after the Kansas Supreme Court refused to dismiss the lawsuits and another in Douglas County at the Republican attorney general’s request.
Democrats and the voting-rights group Loud Light argue that the congressional redistricting law enacted over Democratic Gov. Laura Kelly’s veto represents partisan and racial gerrymandering. They say it violates the Kansas Constitution. They’re suing Secretary of State Scott Schwab and county election officials because they would administer the new law.
The map makes it harder for the only Kansas Democrat in Congress, Rep. Sharice Davids, to get reelected in her Kansas City-area district.
Schmidt and fellow Republicans argue that the new map isn’t gerrymandering and even if it were, state courts have no power under the Kansas Constitution to rule on congressional districts.
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