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Southen Vermont College sales approved by court

Southen Vermont College sales approved by court
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SVHC is high bidder for college campus

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BENNINGTON â Southwestern Vermont Health Care outbid youth camp operator Moshe Perlstein and businessman Paul Belogour on Friday to purchase the former Southern Vermont College campus for $4,650,000.
The bidding process took place during a late morning videoconference hearing before Judge Colleen Brown in U.S. Bankruptcy Court.
The session involved about two dozen higher bids being offered before the remaining alternate bidder, Perlstein, said, I m out,â leaving only SVHC.
Belogour and his Vermont RE Development, LCC, had stopped bidding when the offers reached $3.95 million.
Perlstein and SVHC kept raising the bid by the required $50,000 increments until the price reached $4.35 million, at which point Perlstein asked for a five-minute recess. ....

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Offers for SVC campus headed for court hearing

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BENNINGTON â Three parties with qualified initial offers are now potential bidding competitors for the 371-acre former Southern Vermont College campus.
Raymond Obuchowski, the appointed bankruptcy court trustee representing the college estate, filed a notification with the court Wednesday stating that summer camp operator Moshe Perlstein had met the qualification terms.
Those terms include posting a 10 percent deposit and providing proof of the financial resources to follow through with a purchase.
Southwestern Vermont Health Care filed a $3.2 million offer for the campus in mid-November.
Both Perlstein and Vermont RE Development, LLC, controlled by businessman and investor Pavel Belogour, have now countered with offers of $3,250,000 for the campus and main buildings of the former private college. ....

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