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 Wednesday, Berkshire Bank attorney Elizabeth Glynn said the Hermitage’s proposed reorganization under Chapter 11 “is not feasible” and the court should grant the involuntary Chapter 7 filed in May.  

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The Deerfield Valley News

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