Following two days of mediation the City of Burlington, McNeil Leddy & Sheahan and CitiBank NA have agreed to file the following joint stipulation in the Vermont Federal District Court:
The parties have agreed to resume the ENE on February 8, 2013. The parties jointly request that proceedings be suspended until the final ENE Report is filed and the days that elapse in the interim not be counted against any discovery or motion deadlines.
An ENE is an early neutral evaluation. Click here to learn more about ENE.
The Mayors Office will not be issuing any further statement on this matter given the confidential agreement signed by all mediation participants.
The city-owned Burlington Telecom has failed to make payments to lender CitiBank since 2010 and owes it some $33.5 million. The two have tussled in court over repayment with CitiBank wanting to repossess the equipment.
Source: City of Burlington 1.25.2013
City of Burlington and CitiBank agree to resume mediation on February 8
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on