Receiver seeks 1.95M for helping to clean up EB-5 mess at Jay Peak

The receiver for two troubled ski resorts in the Northeast Kingdom is asking the court to approve $1.95 million in legal and accounting fees.

Michael Goldberg, the court-appointed receiver for Jay Peak and Burke Mountain resorts, racked up the fees as he worked to stabilize the companies, which were on the brink of bankruptcy. His law firm will receive nearly half of the money sought.

The resorts were seized by the federal government in April, and Goldberg has spent the past seven months cleaning up the mess left in the wake of the biggest alleged EB-5 fraud in the nation’s history.

Goldberg submitted a filing Tuesday evening asking a judge to permit the payment of those fees and expenses with proceeds from a recently approved $13.3 million settlement with Citibank.

Read more: https://vtdigger.org/2016/11/24/receiver-seeks-1-95m-helping-clean-eb-5-mess-jay-peak/