SEC Slams Jay Peak Owner’s Latest Fee Bid In EB-5 Suit

Law360, New York (October 13, 2016, 8:32 PM EDT) — The U.S. Securities and Exchange Commission ripped into Jay Peak ski resort owner Ariel Quiros latest bid for an order allowing a payment of lawyers’ fees in the agency’s $350 million EB-5 suit, saying it’s seeking to have his attorneys compensated at “outlandishly high rates.”

The SEC urged the court to reject Quiros’ motion regarding attorneys fees, pointing out that Quiros has now asked for over $1.5 million in costs and fees for “just five months’ work.”

“Quiros’ [motion] seeks almost $560,000 in fees and costs…

Source: Law360