Vermont judge authorizes $8M payout in Koffee Kup hearing
June 23, 2021
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BURLINGTON, Vt. (AP) A Vermont county judge has approved the payment of nearly $8 million in outstanding claims made by three Koffee Kup Bakery creditors.
Chittenden County Judge Samuel Hoar approved the payment Tuesday and signaled that he was open to expanding the role of Ronald Teplitsky, the receiver of Koffee Kup’s assets, to make recommendations on how other creditors, including the 500 employees who lost their jobs on April 26, will receive money owed to them, the Brattleboro Reformer reported.
Koffee Kup’s primary lender, KeyBank, will receive $7.6 million, the Vermont Economic Development Authority will receive $213,000 and Continental Indemnity will get $84,000.
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