Berkshire Bank

Snowguns at the Hermitage Club are some of the assets being argued over in bankruptcy court by the club’s creditors. File phto/Mike Eldred

Hermitage creditors jockey for dibs on assets

RUTLAND- Attorneys for creditors in the Hermitage bankruptcy cases have agreed to postpone a hearing on Berkshire Bank’s motion seeking to proceed with their foreclosure case in Windham Superior Court.
Vermont District Bankruptcy Court Judge Colleen Brown signed the order Wednesday,...

Bank wants Hermitage Club foreclosure to start

RUTLAND- Berkshire Bank is asking the Vermont District Bankruptcy Court to allow their foreclosure action to proceed in Windham Superior Court.
The bank filed its foreclosure suit in February 2018, amid mounting financial difficulties at the Hermitage. An automatic stay was placed on...

A flurry of motions filed in Hermitage Club bankruptcy, hearing on Friday

BURLINGTON- The Hermitage and their creditors are set to testify Friday on Hermitage motions for Chapter 11 bankruptcy financing and insurance, and a motion by the US Bankruptcy Trustee to convert the bankruptcy to Chapter 7, dismiss the case altogether or appoint a Chapter 11 trustee.
...

Hermitage files new financing motion

RUTLAND- The Hermitage filed a new motion for bankruptcy financing Monday, after US Bankruptcy Judge Colleen Brown denied their previous motion following a hearing on Friday, July 12.
In her decision last week, Brown set a Monday deadline for a new motion, which will be heard at a...

"Failed promises and shattered dreams." Wilmington opposes Hermitage financing deal

RUTLAND- Two local municipalities have joined Berkshire Bank in their opposition to the Hermitage's motion asking the court to approve a $1.75 million debtor-in-posession (DIP) loan, and the court has put a hearing on the conversion of the cases to Chapter 7 (liquidation) on a fast-track. On...

Club creditors object to Hermitage financing deal

RUTLAND- Two creditors and the US Trustee have filed objections to a Hermitage motion seeking approval of a financing deal.
Last week, in anticipation of a hearing set for Friday, July 12, the Hermitage submitted a 36-page amended motion asking the court to approve a $1.75 million “debtor-...

Judge moves to consolidate Hermitage Club bankruptcies into Chapter 11

RUTLAND- Hermitage Inn Real Estate Holding Company’s Chapter 11 and involuntary Chapter 7 bankruptcies have been consolidated and will move forward under Chapter 11, following a stipulation by several key parties in the case.
Vermont District Bankruptcy Court Judge Colleen A. Brown signed...

The Hermitage Clubhouse at Haystack

Creditors object to Hermitage insurance financing plan

BURLINGTON- A hearing on a Hermitage motion to approve an insurance finance agreement has been set for Friday, July 12, following a hearing this week on objections filed by the Hermitage’s largest creditors and the US Bankruptcy Trustee.
Last week, the Hermitage filed an emergency motion...

Garmisch Court condominiums at the Hermitage

Bank, not Hermitage, making sewer payments

WILMINGTON- Coldbrook Fire District officials say they expect to continue receiving payments from Berkshire Bank while the Hermitage is under bankruptcy protection.
Last week, Wilmington town officials announced their expectation that the bank will not continue making property tax payments...

Berkshire Bank won’t agree to Chapter 11 funding

RUTLAND- Berkshire Bank, the Hermitage’s biggest creditor, will not consent to financing sought by James Barnes and the Hermitage to fund their Chapter 11 reorganization plan.
In a statement submitted to the Vermont District Bankruptcy Court prior to a venue hearing on Tuesday and...