Sunapee’s new leaseholder fined millions for bribery. Officials now say State cannot intervene.

The Union Leader reports: “Sunapee’s new leaseholder fined millions in bribery case” and “… the deal between Och-Ziff and CNL was structured to avoid triggering the state’s right to intervene.”

“MacDonald [NH’s attorney general] said the terms of the lease agreement allow the state to intervene if the company holding the lease decides to sell or transfer it to someone else, but no provision was made for the state to intervene if the company holding the lease is bought by another company.”

See http://www.unionleader.com/business/Sunapees-new-leaseholder-fined-millions-in-bribery-case-06092017

On June 7, 2017, Attorney General Gordon MacDonald and Commissioner Jeffrey Rose, Department of Resources and Economic Development, issued a memo on the subject.

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

If you have questions or information to share, please contact us.

Update 06/17/2017 – The memo of June 7, 2017, by NH’s attorney general and DRED commissioner referenced a Lessor Estoppel (signed in September 2016). See CNL Ski – Ground Lease Estoppel – Sunapee -State of New Hampshire (pdf 5 MB)

 

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