|
|
|
Utah-based company wins auction to buy Jay Peak in Vermont
Law Firm News |
2022/09/08 14:12
|
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 to 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.
|
|
|
|
|
|
|
Abortion clinic goes before judge to challenge WVa ban
Law Firm News |
2022/07/18 13:05
|
West Virginia’s only abortion clinic was going before a county judge on Monday to ask that an 1800s-era law be thrown out so the facility can immediately resume abortions.
The Women’s Health Center of West Virginia suspended abortion services on June 24, the day the U.S. Supreme Court overturned Roe v. Wade. The state has an abortion ban on the books dating back 150 years that makes performing or obtaining an abortion a felony, punishable by up to a decade in prison. There is an exception for cases in which a pregnant person’s life is at risk.
The ACLU of West Virginia has argued on the clinic’s behalf that the old law is void because it hasn’t been enforced in more than 50 years and has been superseded by a slew of modern laws regulating abortion that acknowledge a woman’s right to the procedure. One example is West Virginia’s 2015 law, which allows abortions until 20 weeks.
In motions before Kanawha County Circuit Court Judge Tera L. Salango in Charleston, the Women’s Health Center’s attorneys said abortion services are essential health care, and the state’s most vulnerable residents are put at risk every day they don’t have access to that care.
Staffers have canceled dozens of abortion appointments, fearing they or their patients could be prosecuted under the old statute. “When it was in effect, the statute was used to criminalize both people who seek and provide abortion care,” the ACLU said.
|
|
|
|
|
|
|
States brace for fight over gun laws after high court ruling
Law Firm News |
2022/06/24 16:50
|
The Supreme Court’s decision overturning a gun-permitting law in New York has states with robust firearms restrictions scrambling to respond on two fronts — to figure out what concealed-carry measures they might be allowed to impose while also preparing to defend a wide range of other gun control policies.
The language in the court’s majority opinion heightened concern that other state laws, from setting an age limit on gun purchases to banning high-capacity ammunition magazines, may now be in jeopardy.
“The court has basically invited open season on our gun laws, and so I expect litigation across the board,” said New Jersey acting Attorney General Matt Platkin, a Democrat. “We’re going to defend our gun laws tooth-and-nail because these gun laws save lives.”
The court ruling issued Thursday specifically overturned a New York law that had been in place since 1913 and required that people applying for a concealed carry permit demonstrate a specific need to have a gun in public, such as showing an imminent threat to their safety. The court’s conservative majority said that violated the Second Amendment, which they interpreted as protecting people’s right to carry a gun for self-defense outside the home.
While the ruling does not address any other laws, the majority opinion opens the door for gun rights advocates to challenge them in the future, said Alex McCourt, the director of legal research for the Johns Hopkins Center for Gun Violence Solutions.
Pro-firearms groups in several states said they plan to do just that.
Attorney Chuck Michel, president of the California Rifle and Pistol Association, said the group is preparing to expand its legal challenges based on the high court changing the legal standard used to assess whether gun control laws are constitutional.
Courts must now consider only whether a gun control regulation is consistent with the Second Amendment’s actual text and its historical understanding, according to Thursday’s ruling. Before that, judges also could consider a state’s social justification for passing a gun control law.
Michel said the standard will affect three prominent California laws. Legal challenges to the state’s limits on assault weapons, its requirement for background checks for buying ammunition and its ban on online ammunition sales are pending before a federal appellate court.
|
|
|
|
|
|
|
Man denies kidnapping charge in alleged murder-for-hire plot
Law Firm News |
2022/06/03 10:09
|
A Colorado man pleaded not guilty Thursday in federal court in Vermont to kidnapping a man who was later found shot to death in a snowbank in 2018 in what prosecutors allege is a murder-for-hire case stemming from a financial dispute.
Federal prosecutors say they believe Jerry Banks, 34, of Fort Garland, Colorado, killed Gregory Davis, 49, of Danville, Vermont, but he has not been charged in the killing. U.S. District Judge Geoffrey Crawford ordered Banks to remain detained until trial, noting the prosecutors’ concerns about his risk of flight and safety risk to potential witnesses.
“Someone who would kill for money would likely kill or improperly influence a witness or otherwise seek to influence the course of a trial that would result in his life in prison,” Paul Van de Graaf and Jonathan Ophardt, assistant U.S. attorneys for Vermont, wrote in their detention request. They said Banks has a history of living “off the grid” and no strong connection to Vermont or anywhere else in the country.
Banks’ federal public defender, Mary Nerino, did not contest detention and would not comment on the charges after the arraignment.
Davis was abducted from his Danville, Vermont, home on Jan. 6, 2018, and found shot to death the next day in a snowbank on a back road in Barnet.
Prosecutors detailed the alleged conspiracy in a filing Monday in federal court in Las Vegas. They wrote that Davis had been threatening to go to the FBI with information that Serhat Gumrukcu, 39, an inventor and the co-founder of a Los Angeles-based biotechnology company, was defrauding Davis in a multimillion-dollar oil deal Gumrukcu and Gumrukcu’s brother had entered into with Davis in 2015.
Gurumkcu was facing felony fraud charges in California in 2017 and was working on a deal that came together soon after Davis’ death that gave him significant ownership stake in Enochian Bioscience.
|
|
|
|
|
|
Law Firm News RSS Feed
