Berkshire Bank

Receiver to remain during Hermitage bankruptcy

BURLINGTON- Hermitage receiver Alan Tantleff will stay on the job until further notice, according to an order signed by Vermont District Bankruptcy Court Judge Colleen Brown Friday afternoon.
The order follows a court hearing on Thursday morning during which several issues were discussed,...

Courts try to sort out Hermitage bankruptcy consolidation

BURLINGTON- Bankruptcy judges in Vermont and Connecticut have ordered a temporary stay of Hermitage Chapter 11 cases filed in Connecticut while the Vermont District Bankruptcy Court decides whether to consolidate the cases in Vermont. The filing of Hermitage Chapter 11 bankruptcies in...

Stating the obvious: Receiver says club won’t open

WILMINGTON- A quarterly Hermitage receiver’s report filed this month calls the Hermitage Inn Real Estate Holding Company’s economic condition “stable,” but also notes that a plan to operate the ski area this season was inadequate.
In the report, receiver Alan Tantleff, of FTI Consulting,...

Club won't open for Christmas

WILMINGTON- The Hermitage Club will not reopen for the holiday season, according to club president Harper Sibley.In a brief holiday missive to members, Sibley said the company has not been able to close on the refinancing deal they've been seeking for the past several months. The company also...

Judge denies request for winter prep at club

NEWFANE- Hermitage receiver Alan Tantleff will not be required to prepare ski lifts and snowmaking facilities for operations this winter, according to an order signed by Windham Superior Court Judge Robert P. Gerety.
The order followed a hearing on a motion by Berkshire Bank asking for...

Receiver holds little hope for club opening

NEWFANE- The Hermitage Club’s Haystack ski area may not be able to open for skiing this winter, according to a report by Alan Tantleff of FTI Consulting, the court-appointed receiver tasked with maintaining Hermitage properties under foreclosure by Berkshire Bank.
In a report filed with...

Barnes announces tentative financing deal

WILMINGTON- Hermitage Club Founder Jim Barnes announced a tentative financing deal with Oz Real Estate to bail out the beleaguered private resort in an email to members on Tuesday afternoon. “The Hermitage Club has been working for several months with a large institutional investor having...

Club files objection to bank’s receiver appointment

NEWFANE- Last week, Berkshire Bank filed a proposed order of appointment for a receiver to maintain Hermitage properties under foreclosure, and on Tuesday the Hermitage filed an objection to the bank’s proposal.
Both documents were filed following a May 18 ruling by Windham Superior Court...

Hermitage Clubhouse

Judge orders Hermitage receivership

By Mike Eldred NEWFANE- Windham Superior Court Judge John Treadwell has granted Berkshire Bank's emergency motion to appoint a receiver to care for Hermitage properties under foreclosure in a ruling issued today, Friday May 18. Treadwell also appointed Berkshire Bank's...

This photo showing volunteers removing tarps from the greens at the Hermitage Club golf course was posted on Instagram Monday.

Club counters receivership motion, claims $26 million loan in escrow

NEWFANE- The Hermitage Club has filed an objection to a Berkshire Bank emergency motion asking the court to appoint a receiver for properties in foreclosure, claiming they have a lender who intends to lend $26 million to the beleaguered company to repay its delinquent debts.
Berkshire...