Mon November 12, 2012
Suit Balsams' Owners Said Blocked Financing Is Dismissed
A judge in Merrimack Superior Court has dismissed a suit that the owners of the Balsams Grand Resort in Dixville Notch said was holding up its re-opening.
NHPR’s Chris Jensen reports.
The suit was filed by Andy Martin, a self-described public-interest advocate and corruption fighter.
Martin claimed the sale was “committed fraudulently.”
Among those sued were the new owners, Danny Dagesse and Dan Hebert, the town of Colebrook and the New Hampshire attorney general.
Judge Richard McNamara dismissed the suit, saying Martin failed to demonstrate he had the standing to sue.
The Balsams has been closed since late last year, putting about 300 full and part-time employees out of work.
The renovation was expected to cost about $20 million and the goal was to re-open next July.
Dagesse and Hebert have complained that the suit made it impossible for them to obtain the financing needed.
But they also had financing problems not related to the litigation.
For example they had hoped to use historic tax credits to attract investors.
But that fell through when they discovered tearing down part of the resort would affects its historic rating make the project ineligible.
For NHPR News this is Chris Jensen