A bid has been made to purchase Jay Peak Resort for $93 million, but the person who is overseeing the property through receivership said it is not for sale.
A seven-page document was filed in a Miami federal court Monday as part of a Securities and Exchange Commission civil fraud case against Bill Stenger and Ariel Quiros, the developers of Jay Peak and other projects in the Northeast Kingdom. The filing, under the letterhead of Bellwether Asset Management, is titled “Letter of Intent to Purchase Shares and Associated Assets.”
The document outlines steps for Bellwether to buy Jay Peak Inc. from Q Resorts, a holding company run by Quiros.
The properties are in receivership, and a federal judge would have to approve any sale. The offer from Bellwether is not under consideration by Michael Goldberg, the resort’s court-appointed receiver.
“The property is not being sold to Bellwether. We’re not even selling it at this point,” Goldberg said in an email Tuesday. “It was an unsolicited offer.”
The filing stated that if the parties agreed to steps outlined for the sale, they were to sign the document by the close of business Aug. 5 and send a copy to the address of Bellwether in Boca Raton, Florida.
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