Author: Robert Blechl, Caledonian Record

Presidential Mountain Resort files for bankruptcy

A decade after buying the property to redevelop it into a new generation of vacation cabins, the owner of Presidential Mountain Resort LLC (PMR) in Bethlehem has filed for bankruptcy protection in New York’s federal court, claiming more than $13 million in liabilities owed.

New lawsuit alleges coordinated fraud

As Service Credit Union (SCU) seeks a new chapter of federal bankruptcy for an unfinished senior living campus in Littleton, it filed a lawsuit in state court last month against the owners and lenders, whom it accuses of coordinated fraud and embezzlement involving a $30 million SCU construction loan.