Jay Peak Receiver Announces the Termination of Relationship with William Stenger

May 31, 2019

Fort Lauderdale, Florida – Michael I. Goldberg, the Receiver for Jay Peak, Inc. and related entities, announced today that, in light of his recent indictment, Bill Stenger is no longer an independent contractor of the receivership estate or Jay Peak, Inc.  The Receiver stresses that Mr. Stenger’s termination should not be interpreted as an indication that the Receiver believes that William Stenger did anything wrong and, in fact, a forensic accounting performed by the Receiver’s professionals early in the case failed to uncover any funds wrongfully diverted to Mr. Stenger.  The Receiver’s decision to terminate Mr. Stenger at this time is simply based on the Receiver’s opinion that it would not be appropriate to continue to retain Mr. Stenger in light of the recent indictment. The Receiver acknowledges that Bill Stenger was a very valuable resource to him over the past few years and that he worked tirelessly to assist the Receiver in many aspects of administering the receivership.  The Receiver wishes Bill Stenger and his family well in this difficult time.