Kmart says lifetime passes aren’t its obligation

[billski]

Gee, I thought you guys would have snared this one already, or perhaps I'm a poor searcher?

http://www.burlingtonfreepress.com/apps/pbcs.dll/article?AID=200771114003

 

[Hawkshot99]

Gee, I thought you guys would have snared this one already, or perhaps I'm a poor searcher?

http://www.burlingtonfreepress.com/apps/pbcs.dll/article?AID=200771114003

We did, back in August or so when they announced it.;-):lol:

 

[Hawkshot99]

We did, back in August or so when they announced it.;-):lol:

O it was May...

Lifetime pass thread

 

[andyzee]

We did, back in August or so when they announced it.;-):lol:

And the few 100 times after that :smash: ;-)

 

[thetrailboss]

Well, this is a suit that has been filed...after the AG and BISHCA said no cause of action...

 

[GrilledSteezeSandwich]

Old Old Old news..and I actually agree with Powder on not honoring lifetime passes because it was a deal made two owners ago and agreements like that usually don't hold up under new ownerships. Like a lifetime membership at a gym..

 

[St. Jerry]

No, I hadn't seen this 100,000,000,000 fhukcing times already!

 

[billski]

bad...

We did, back in August or so when they announced it.;-):lol:

That explains it. I have to flee these forums when the weather gets bad (above 0 degrees C) or else I would be suicidal. ;-)

 

[tree_skier]

From this weeks snow industry newsletter

KILLINGTON THREATENS COUNTERSUIT IN PASSHOLDER LAWSUIT
The new owners of the Killington, VT ski area are asking a judge to dismiss a case brought against it by people who claim to hold lifetime passes to the resort. (See TSIL 11-6.) Killington was sold to Powdr Corp. and SP Land Co. in May and is being operated by a new entity called Killington/Pico Ski Resort Partners LLC.


In a media statement from a Burlington, VT law firm, KSRP said the resort has no legal obligation to honor more than a thousand lifetime ski passes issued by a previous owner and that those passes were only valid while the Sherburne Corporation - Killington's original owner - continued to operate the resort.


The passes issued to certain original investors - referred to as "equity passes" - were valid so long as the Sherburne Corporation operated the Killington ski area. Throughout a number of ownership changes, Killington, Ltd. continued to operate the resort and honor the passes. A similar situation exists with bondholder passes.


"Neither KSRP nor any affiliate of KSRP is related in any way to Killington, Ltd., Sherburne Corporation or ASC (American Skiing Co.)," the statement reads. KSRP has offered a two-year extension to equity and bond passholders, "but does not intend to be coerced into further concessions for which it has no legal obligation. If the complaint is not withdrawn, KSRP will defend its position vigorously and ultimately may seek recovery of its legal costs."

 

[C2H5OH]

..and I actually agree with Powder on not honoring lifetime passes because it was a deal made two owners ago and agreements like that usually don't hold up under new ownerships. Like a lifetime membership at a gym..

I asked my wife who working in HSBC, if mortgage company goes under (because of bad home loans and delinquent borrowers), does that mean everyone else who financed house thru them gets to keep house without any obligations? She said No, not so simple.

 

[SkiDork]

Old Old Old news..and I actually agree with Powder on not honoring lifetime passes because it was a deal made two owners ago and agreements like that usually don't hold up under new ownerships. Like a lifetime membership at a gym..

This is not old news. Notice the date on the article.

This is new news in response to the law suit that had been filed.

 

[C2H5OH]

any lifetime pass members?

is anyone from this forum a lifetime pass holder ?

 

[SkiDork]

is anyone from this forum a lifetime pass holder ?

me

 

[ctenidae]

me

Not anymore...

;-)

 

[Marc]

Not anymore...

;-)

That's cold...

 

[tcharron]

Well, this is a suit that has been filed...after the AG and BISHCA said no cause of action...

Well, there was nothing Criminal that took place. They deffered it to a civil action.

 

[GrilledSteezeSandwich]

Not anymore...

;-)

Ahahahahaha

 

[tcharron]

Something occured to me with this. They're saying they have no obligation to honor the original agreements because they're not the same company.

So, they've signed a new lease for the land the resort is on? I mean they can't have it both ways.

 

[JimG.]

billski wins this week's pot stirrer award!

Take a bow Bill!

 

[ctenidae]

Something occured to me with this. They're saying they have no obligation to honor the original agreements because they're not the same company.

So, they've signed a new lease for the land the resort is on? I mean they can't have it both ways.

The passes said as long as Sherbourne operated[ the mountain. Powdr didn't buy ASC or any operating company, they bought the assets, and may have assumed the lease. Therefore, Sherbourne and/or its successors are no longer operating Killington. Ergo, no lifetime pass for you.