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Sale of Lease at Mount Sunapee: Registry Filings & State Docs

State of New Hampshire Documents

NH AG DRED Mt Sunapee Ski Area Memo 2017June7 (pdf 1.2 MB)

CNL Ski – Ground Lease Estoppel – Sunapee – State of New Hampshire 2016Sept (pdf 5.5MB)

Registry Filings 2017 and 2016

CLP Mout Sunapeee Quit Claim Deed 2017April6 (pdf 244kb)

Leasehold Mortgage CLP Mt Sunapee LLC 2017April6 (pdf 1.8MB)

Subordination, NonDisturbance and Attornment Agreement 4-06-1017 (pdf 630MB) – Leasehold Record Owner: CLP Mount Sunapee LLC. Sublessee/Tenant: The Mount Sunapee Difference LLC. Lender: EPT Ski Properties, Inc.

Mount Sunapee Lease Amendment_2016March (pdf 1.9MB)

Revised Master Developmentn Plan Approval-Letter of Conditions 2016 March (pdf 379kb)

Lease Amendment_West Bowl Expansion Lands Exhibit A (pdf 158kb)

Lease Amendment_Conservation Lands Exhibit B (pdf 122kb)

2015 and prior

Revised Lease Area at Mount Sunapee State Park 2014Dec (pdf 711kb)

CLP Name Change 2012

Lease Operating Agreement and Map (1998) (pdf 1.1MB)

NH RSA Section 12-a_29-a_Lease Agreement Terms (effective 1996) (pdf 35kb)

 

 

 

 

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Sale of Mount Sunapee ski area lease: Articles and Industry PR

FOMS believes that, at Mount Sunapee State Park, the State’s primary responsibility is to serve as guardian of the public interest and to preserve and protect the essential conservation and public recreational values for which the park fundamentally exists to provide.

Commercial development, driven by powerful corporate interests, increasingly threatens public lands. At Mount Sunapee State Park, we must strongly resist the exploitation of our parkland for private financial gain. Additionally, leaseholders at our state parks must demonstrate sound financial management and ethical practices that inspire public confidence and trust.

Updated 6/25/2017. Below find links to industry press releases and news articles related to the sale of the ski area lease at Mount Sunapee. Provided here are registry documents and related State documents.

The state-owned ski area, located in Mount Sunapee State Park, was leased in 1998 by the State of New Hampshire to Okemo, which later chose to operate in N.H. as The Sunapee Difference. In 2008, Okemo/TSD sold the lease to CNL Lifestyle Properties (real estate investment trust) with an agreement that kept Okemo/TSD managing the ski area. The lease is subject to “assignment or otherwise transfer” with State approval.

However, on June 7, 2017, the NH attornery general and the commissioner of the Department of Resources and Economic Development announced that Och-Ziff (Real Estate) now owns the ski area lease at Mount Sunapee State Park, and the deal was “structured in a manner to avoid triggering the assignment provision of the Lease.”

06/20/2017 –

Mount Sunapee lease holder Och-Ziff pays $413 million to settle foreign bribes concerning African diamonds and mining rights

06/10/2017 –  N.H. Calls for Lease Hearing – Valley News

After bribery schemes in Africa led the U.S. government to fine the new operator of Mount Sunapee Resort $412 million last year — one of the biggest penalties ever issued under the Foreign Corrupt Practices Act — the New Hampshire attorney general wants to hold a public information meeting about plans for the resort.

06/08/2017 –  Sunapee’s new leaseholder fined millions in bribery case – Union Leader

06/07/2017 – State calls for public meeting amid concerns over Mount Sunapee ski lease – Concord Monitor

06/01/2017 – The FCPA Blog Former Och-Ziff middleman jailed two years – The FCPA Blog

05/31/2017 – Och-Ziff Judge Wants Everybody in Bribery to Be Accountable – Bloomberg.com

05/22/2017 – Och-Ziff: Wall Street’s fallen star – Crain’s New York Business

Daniel Och’s hedge fund saw the steepest revenue drop—42%—of any publicly held New York company, thanks to a massive corruption scandal.

04/10/2017 – EPR Properties & CNL Lifestyle announces transaction closure – Zacks.com

04/08/2017 – EPR Properties and CNL Lifestyle Properties Announce Closing Of Transaction, Includes Northstar Sale – Snow Industry News

EPR Properties (the “Company”) and CNL Lifestyle Properties, Inc. (“CNL Lifestyle”) today announced the completion of the previously announced acquisition by the Company of the Northstar California Ski Resort, 15 attraction properties (waterparks and amusement parks) and five small family entertainment centers for aggregate consideration valued at $455.5 million. Additionally, the Company provided $251.0 million of five-year secured debt financing to funds affiliated with Och-Ziff Real Estate (“OZRE”) for its purchase of 14 CNL Lifestyle ski properties valued at $374.5 million.

  • Redemptions over the last 13 months came amid settlement
  • Resolved five-year bribery probe in September with regulators

See https://www.bloomberg.com/news/articles/2017-02-15/och-ziff-reports-8-billion-in-outflows-in-2016-amid-settlement

  • Cohen and Baros were behind sprawling Africa graft campaign
  • The duo paid tens of millions of dollars in bribes, SEC says

11/26/2016 – Mt. Sunapee, Loon buyer paid $412m to settle criminal, civil bribery charges – NH Business Review

Hedge fund bribed officials in several African nations, including Qaddafi’s son

11/03/2016 – Crested Butte and 13 other ski areas sold to New York hedge-fund manager DenverPost.com

11/03/2016 – CNL unloads 15 ski resorts –  FirstTracksOnLine.com

11/02/2016 – EPR Properties: CNL Lifestyle Properties Portfolio Transaction

Download/view: epr-prop-cnl-portfolio-transaction-2016nov2 (pdf 3.3MB)

 

11/02/2016 – CNL Lifestyle Properties, Frequently Asked Questions, Plan of Liquidation & Distribution, Purchase & Sale Agreement and Special Distribution

Download/view: cnl-liquidation-special-distribution-stockholder-qa-2016nov2 (pdf 127kb)

11/02/2016 – CNL Lifestyle Properties, Stockholder Letter

Download/View: cnl-stockholder-letter-2016nov2 (pdf 109kb)

About Och-Ziff, the lessee at Mount Sunapee

09/26/2016 – Och-Ziff’s Sprawling Africa Bribery Network Laid Out by U.S. – Bloomberg.com

  • Hedge fund billionaire turned blind eye to corruption risks
  • Scheme sought to win deals from officials, including a Qaddafi

Those actions are part of a multiyear bribery conspiracy across Africa that benefited Och’s firm, Och-Ziff Capital Management LP, U.S. authorities said Thursday.

See https://www.bloomberg.com/news/articles/2016-09-29/och-ziff-two-executives-sanctioned-by-sec-over-africa-deals

See below for the breakdown of the $415 million: $213 million in criminal charges for violating the Foreign Corrupt Practices Act by Department of Justice and $200 million in civil charges for violating the Foreign Corrupt Practices Act (FCPA) by the Securities and Exchange Commission.

09/26/2016 – Och-Ziff Capital Management Admits to Role in Africa Bribery Conspiracies and Agrees to Pay $213 Million Criminal Fine –  U.S. Department of Justice, Office of Public Affairs

Och-Ziff Enters into Three-Year Deferred Prosecution Agreement; Subsidiary Pleads Guilty to Conspiracy to Violate the Foreign Corrupt Practices Act

See https://www.justice.gov/opa/pr/och-ziff-capital-management-admits-role-africa-bribery-conspiracies-and-agrees-pay-213

09/26/2016 – Och-Ziff Hedge Fund Settles FCPA Charges – U.S. Securities and Exchange Commission

The Securities and Exchange Commission today announced that Och-Ziff Capital Management Group has agreed to pay nearly $200 million to the SEC to settle civil charges of violating the Foreign Corrupt Practices Act (FCPA).

See https://www.sec.gov/news/pressrelease/2016-203.html

08/21/2014 – The Hedge Fund and the DespotDid a Wall Street titan’s money bail out Robert Mugabe in his hour of need? – Bloomberg.com 

Asked repeatedly when Och-Ziff first learned its money would fund the Zimbabwe platinum deal, a spokesman for the hedge fund firm declined to comment.

See https://www.bloomberg.com/news/articles/2014-08-21/mugabes-bailout-och-ziff-investment-linked-to-zimbabwe-despot

Spring 2017 Update

Dear Friend of Mount Sunapee State Park,

Thank you for your continuing support of the efforts of Friends of Mount Sunapee. Your letter writing, petition signing, activism, and financial support have allowed us to repeatedly communicate to the decision makers in Concord our strong opposition to ski area expansion at Mount Sunapee State Park.We could not have done it without you!

Despite our efforts, the Executive Council, in April 2016, approved a lease amendment and letter of conditions that enable resort and private real estate development on Mount Sunapee’s western slope.

Yet to be implemented, this plan (for developing a “West Bowl”) failed to detail its scale and scope, impacts and sustainability.

Commercial development, driven by powerful corporate interests, increasingly threatens public lands. At Mount Sunapee State Park, we must strongly resist the exploitation of our parkland for private financial gain. Additionally, leaseholders at our state parks must demonstrate sound financial management and ethical practices that inspire public confidence and trust.

Latest Update: Sunapee lease transfer

FOMS is now asking Commissioner Rose (Dept. of Resources and Economic Development) to deny the lease assignment of the ski area (at Mount Sunapee) from CNL Lifestyle Properties to Och-Ziff Capital Management Group LLC, a New York hedge fund.

In September 2016, the U.S. Dept. of Justice and the U.S. Securities and Exchange Commission sanctioned Och-Ziff under the provisions of the Foreign Corrupt Practices Act, resulting in civil and criminal fines totaling $412 million. Furthermore, recent news reports question Och-Ziff’s financial stability. A February 2017 Bloomberg article reported: “Och-Ziff Suffered $13 Billion in Withdrawals as Clients Fled.”

See more about Och-Ziff.

[Please check back. FOMS is in process of updating its website. Thank you for your patience.]

More about about Och-Ziff

CNL Lifestyle Properties closed the deal to liquidate its assets including the ski area lease at Mount Sunapee State Park. Och-Ziff purchased CNL’s remaining 14 ski properties for a reported $374.5 million.

What next? DRED said in March 2017: “When [a lease] assignment request is made, it will be reviewed by the DRED Commissioner, in consultation with the Office of the Attorney General, followed by a recommendation to the Governor and Executive Council.”

In June, DRED and the NH attorney general asserted that the change in ownership of the ski area lease at Mount Sunapee was “structured in a manner to avoid triggering the assignment provision of the Lease.”

Please follow FOMS Latest News and see latest news articles

Provided below are news articles about Och-Ziff Capital Management Group LLC and information released by the U.S. Department of Justice and U.S. Securities and Exchange Commission. See other articles, as well.

Och-Ziff’s Sprawling Africa Bribery Network Laid Out by U.S. – Bloomberg.com – September 29, 2016

  • Hedge fund billionaire turned blind eye to corruption risks
  • Scheme sought to win deals from officials, including a Qaddafi

Those actions are part of a multiyear bribery conspiracy across Africa that benefited Och’s firm, Och-Ziff Capital Management LP, U.S. authorities said Thursday. The prosecution included regulatory sanctions against Och and another executive, a guilty plea by an Och-Ziff unit and $415 million in fines and penalties. It also broke new ground: Och-Ziff became the first hedge fund to be criminally sanctioned by the U.S. in an emerging-economy bribery scheme.

See https://www.bloomberg.com/news/articles/2016-09-29/och-ziff-two-executives-sanctioned-by-sec-over-africa-deals

See below for the breakdown of the $415 million: $213 million in criminal charges for violating the Foreign Corrupt Practices Act by Department of Justice and $200 million in civil charges for violating the Foreign Corrupt Practices Act (FCPA) by the Securities and Exchange Commission.

Och-Ziff Capital Management Admits to Role in Africa Bribery Conspiracies and Agrees to Pay $213 Million Criminal Fine –  U.S. Department of Justice, Office of Public Affairs – September 29, 2016

Och-Ziff Enters into Three-Year Deferred Prosecution Agreement; Subsidiary Pleads Guilty to Conspiracy to Violate the Foreign Corrupt Practices Act

A New York-based alternative investment and hedge fund manager, Och-Ziff Capital Management Group LLC (Och-Ziff), and its wholly-owned subsidiary, OZ Africa Management GP LLC (OZ Africa), entered into resolutions to resolve criminal charges and agreed to pay a criminal penalty of more than $213 million in connection with a widespread scheme involving the bribery of officials in the Democratic Republic of Congo (DRC) and Libya.

See https://www.justice.gov/opa/pr/och-ziff-capital-management-admits-role-africa-bribery-conspiracies-and-agrees-pay-213

Och-Ziff Hedge Fund Settles FCPA Charges – U.S. Securities and Exchange Commission – September 29, 2016

The Securities and Exchange Commission today announced that Och-Ziff Capital Management Group has agreed to pay nearly $200 million to the SEC to settle civil charges of violating the Foreign Corrupt Practices Act (FCPA).

Och-Ziff CEO Daniel S. Och agreed to pay nearly $2.2 million to settle SEC charges that he caused certain violations along with CFO Joel M. Frank, who also agreed to settle the charges.

The SEC detected the misconduct while proactively scrutinizing the way that financial services firms were obtaining investments from sovereign wealth funds overseas.  The SEC’s subsequent investigation of Och-Ziff found that the fund used intermediaries, agents, and business partners to pay bribes to high-level government officials in Africa.  According to the SEC’s order, the illicit payments induced the Libyan Investment Authority sovereign wealth fund to invest in Och-Ziff managed funds.  Other bribes were paid to secure mining rights and corruptly influence government officials in Libya, Chad, Niger, Guinea, and the Democratic Republic of the Congo.

  • Redemptions over the last 13 months came amid settlement
  • Resolved five-year bribery probe in September with regulators

Och-Ziff Capital Management Group LLC, one of the world’s biggest hedge fund firms, suffered withdrawals of about $13 billion over the last 13 months as the company settled a five-year bribery probe and saw its founder Dan Och singled out by regulators for ignoring red flags and corruption risks.

See https://www.bloomberg.com/news/articles/2017-02-15/och-ziff-reports-8-billion-in-outflows-in-2016-amid-settlement

Read more…

Help us continue our work

At this critical time for Mount Sunapee State Park, we need and welcome your help: financial support and participation.

We hope you will consider joining one of the many committees of Friends of Mount Sunapee. For more information, please contact us.

Fostering greater awareness and appreciation of the natural wonder that is Mount Sunapee State Park is central to our mission.

Continued education and outreach are critical for the long-term protection of the park, its ancient forest and exemplary plant communities, brooks and streams, and wildlife.

Also, we must ensure that our park provides ample and appropriate opportunities for traditional uses from picnicking, hiking and camping, to quiet exploration and study. We reject the resort’s agenda of adding amusement park features that destroy scenic beauty and undermine the conservation legacy and appeal of this iconic state park.

With your membership and support, we will remain:

  • vigilant and vocal when it comes to the state’s stewardship of Mount Sunapee State Park;
  • advocates for the protection of Mount Sunapee’s highlands and watersheds; and
  • proponents for smart planning that strengthens the local economy and preserves our quality of life, open spaces, and clean waters.

In the early 1900s, decades before the formation of the state park, preservationist Herbert Welsh led the first campaign “to save Mount Sunapee for all people and to all time.” At the time, timber industry clear-cutting was destroying Mount Sunapee’s scenic beauty and natural environment including its primeval forest.

In defense of a Mount Sunapee State Park for all, the important work of conservation, education, and advocacy continues. Continue it must!

Join today!

 

Copyright 2017 Friends of Mount Sunapee