Receiver In Jay Peak Case Has Doubts About Asset Offer

Law360, New York (September 19, 2016, 6:17 PM EDT) — The receiver for bankrupt Vermont ski resort Jay Peak questioned resort owner Ariel Quiros’ claim to have received a valid $93 million offer for the property, saying his proof is a poorly worded letter from a man himself facing fraud claims.

Quiros had argued the offer was proof he could spend his assets to defend himself against fraud claims without endangering shareholder interests, but the receiver argued the validity of the claimed offer letter was suspect due to insufficient and “nonsensical” wording.

“Moreover, had Quiros bothered…

Source: Law360

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