A judge has ordered the owner of a foreclosed ski club in Vermont to pay about $2.1 million to a club member who is unable to sell back 20 memberships he bought in 2015.
The Brattleboro Reformer reports the judge issued his ruling on two counts of breach of contract against Hermitage Club founder Jim Barnes and Hermitage Club LLC last month.
Under the agreement, Robert Coffin, of Massachusetts, was to pay $65,000 per membership. The Hermitage would later buy them back at $75,000 each after 13 months, $85,000 each after two years or $95,000 each after three years.
Barnes and Hermitage Club now owe Coffin $1.9 million in damages and about $203,000 in interest from February 2018.
Neither Barnes nor an attorney responded to the complaint.
Information from: Brattleboro Reformer
Topics Legislation
Was this article valuable?
Here are more articles you may enjoy.
Viewpoint: Japan’s $550B Bet on America—What it Means for the US Insurance Market 
Ex-CEO, Ex-CFO of Bankrupt AI Company Charged With Fraud 
Carnival Cruise Passenger Served 14 Shots Awarded $300,000 After Fall Down Stairs 
Hedge Fund Money Is Reshaping a 180-Year-Old Insurance Model 
