By Alan J. Keays
VTDIGGER
Michael Goldberg, the court-appointed receiver in charge of overseeing Burke Mountain ski resort for more than seven years, has an offer to buy the scandal-plagued ski resort in Vermont’s Northeast Kingdom.
News of the bid came from a recent court filing submitted by Goldberg, predicting that a sale of the property would take place “later this year.”
The filing does not name the bidder or the amount of the bid, but the document stated that Goldberg wants to continue to seek qualified buyers, and if a matching or higher price is offered, an auction would be held to sell the resort.
That process is similar to the one Goldberg used to sell Jay Peak last year for $76 million to Pacific Group Resorts Inc. of Park City, Utah, after attracting an initial bid from PGRI followed by two additional bidders who all took part in an auction.
Goldberg was also the court-appointed receiver overseeing Jay Peak.
“The Receiver has received an initial offer, and expects to file a motion with the Court in the next month recommending an identical sales process to the Jay Peak sale – a ‘stalking horse’ bid, followed by an auction and a subsequent motion asking the Court to approve a final sale,” Goldberg stated in his recent court filing regarding Burke.
Both Jay Peak and Burke had been mired in scandal for several years.
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