Settlement talks stall in Burlington Telecom lawsuit

BURLINGTON, Vermont — Settlement talks in a lawsuit over the city of Burlington's financially troubled provider of television and Internet and phone service appear to have stalled.

Citibank sued Burlington in 2011. It alleged fraud and breach of contract in an effort to recover a portion of the $33.5 million advanced to the city in 2007 in a lease-purchase agreement intended to build the Burlington Telecom network

The city terminated the agreement in 2010 when it was unable to make payments on the debt.

The Burlington Free Press reports (http://bfpne.ws/19kR8a0) federal mediator Richard Cassidy says both sides have "apparently exhausted" the possibility of a settlement in the last few months.

Mayor Miro Weinberger confirmed the failure of negotiations, but didn't rule out the possibility of a future agreement.

Information from: The Burlington Free Press, http://www.burlingtonfreepress.com

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