The federal receiver appointed to oversee Jay Peak says recent offers to purchase the beleaguered Vermont ski resort don't pass the sniff test.
The Caledonian Record reports Michael Goldberg wrote in a 62-page filing that he believes the $93 million offer, and subsequent $203 million offer, from Florida-based Bellwether Asset Management shouldn't be taken seriously.
BAM's initial offer was cited by attorneys for Ariel Quiros in an attempt to unfreeze some of their client's assets to pay legal fees. Quiros, the owner of Jay Peak and Burke Mountain, is facing federal fraud charges.
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Goldberg says the offer has "created a great deal of misinformation" and he's concerned about the validity of BAM's Letter of Intent. The receiver says he's never seen anything like it in 25 years of work.