AP NEWS
Click to copy
Click to copy

Bank to remove snowmaking equipment from closed ski resort

August 30, 2019

BURLINGTON, Vt. (AP) — A Vermont bankruptcy judge is allowing a bank to remove snowmaking equipment purchased with money it loaned to a now shuttered ski resort.

The Bennington Banner reports that New Jersey-based Lakeland Bank was granted relief from the automatic stay in place for the Hermitage Club at Haystack Mountain in Wilmington. Automatic stays are standard in bankruptcy proceedings and put litigation against the debtor on hold.

Lakeland Bank has been directed to remove the 46 snow guns and two tower-mounted TechnoAlpin fans within a reasonable period of time.

The state shut down the resort last year for missing tax payments.

Lakeland Bank says it’s owed more than $700,000 on a $900,000 loan to the resort in February 2016 for the equipment. The club last made a payment in December 2017.

___

Information from: Bennington Banner, http://www.benningtonbanner.com

All contents © copyright 2019 The Associated Press. All rights reserved.