Burlington Telecom deal still seeks state approval - WCAX.COM Local Vermont News, Weather and Sports-

Burlington Telecom deal still seeks state approval

Posted: Updated:
BURLINGTON, Vt. - State regulators are not sold on the deal meant to get Burlington Telecom out of another lawsuit.

The city reached agreement with Citibank to settle a $33 million lawsuit for about $10 million. The deal involves spending more taxpayer money and borrowing $6 million from Lake Champlain Transportation Company owner Trey Pecor.

The deal needs approval from the State Public Service board but in response to the city's initial filing, the board questions whether there are other solutions that might be better for taxpayers. The board also suggests it may still consider penalizing the city for serious violations of BT's certificate of public good.

Related Stories:

Click here for the Prehearing Conference Memorandum and Procedural Order
Judge rules BT employee acted in good faith

Click here for more stories about Burlington Telecom.

Powered by Frankly
All content © Copyright 2000 - 2017 WCAX. All Rights Reserved. For more information on this site, please read our Privacy Policy, and Terms of Service, and Ad Choices.