BENNINGTON, Vt. (AP) - The court-appointed trustee representing the former Southern Vermont College in bankruptcy proceedings says an agreement to purchase the campus by a summer camp operator was never completed.
According to court filings, Moshe Perlstein, the operator of camps for youths from the New York City area, made an offer in June and entered into an agreement with trustees of the former college to purchase the campus, the Bennington Banner reported. He and the trustees agreed to an occupancy deal allowing summer camps on the campus. But both agreements were to expire by late September and have not been renewed, the newspaper reported.
Raymond Obuchowski, the court-appointed trustee, told the Banner that he had a specific timeframe to decide on the $3.15 million offer, which was not accepted.
“We are still in the process of negotiating a new contract with Mr. Perlstein,” he said, but adding that other parties may present proposals.
A phone message for Pearlstein’s lawyer was left Wednesday.
The former college corporation filed for Chapter 7 bankruptcy in August.
Obuchowski also filed a complaint Monday in bankruptcy court against Perlstein, alleging the camps resulted in “significant damage” to the campus buildings and seeking access to a $300,000 security deposit to cover the losses.
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