Vermont judge authorizes $8M payout in Koffee Kup hearing
June 23, 2021
FacebookTwitterEmail
BURLINGTON, Vt. (AP) A Vermont county judge has approved the payment of nearly $8 million in outstanding claims made by three Koffee Kup Bakery creditors.
Chittenden County Judge Samuel Hoar approved the payment Tuesday and signaled that he was open to expanding the role of Ronald Teplitsky, the receiver of Koffee Kup’s assets, to make recommendations on how other creditors, including the 500 employees who lost their jobs on April 26, will receive money owed to them, the Brattleboro Reformer reported.
Koffee Kup’s primary lender, KeyBank, will receive $7.6 million, the Vermont Economic Development Authority will receive $213,000 and Continental Indemnity will get $84,000.
Post-Pandemic Industrial Parks: Risk-Resilient, Resource Efficient
businessfacilities.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from businessfacilities.com Daily Mail and Mail on Sunday newspapers.
Healthy Living Market, Lawson s Finest Liquids and Union Mutual are finalists for Deane C Davis Award
vermontbiz.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from vermontbiz.com Daily Mail and Mail on Sunday newspapers.
Vermont unemployment rate falls to 2.9 percent
The Vermont seasonally-adjusted unemployment rate fell again and at 2.9 percent in March is back under 3 percent for the first time since just before the pandemic hit in early 2020. The rate reflects a decrease of one-tenth of one percentage point from the prior month’s revised estimate of 3.0 percent. Vermont now is tied for the lowest rate in the nation with three Western states. There are still over 28,000 filing unemployment claims in Vermont. While this about a third the number of filers from the peak of the pandemic, it is still historically high. Ongoing claims typically would be under 6,000. The pandemic numbers also include new programs like the PUA, which in recent weeks has accounted for almost 9,000 claims.
VEDA approved $14 4 million in business development financing last quarter
vermontbiz.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from vermontbiz.com Daily Mail and Mail on Sunday newspapers.