Upton & Hatfield, LLP is pleased to announce that attorneys Justin C. Richardson and Peter W. Leberman helped a regional water utility, Abenaki Water Co., Inc., acquire the Rosebrook water system serving over 400 customers in Bretton Woods, New Hampshire, including the historic Mount Washington Hotel.
Attorney Richardson represented Abenaki in proceedings before the New Hampshire Public Utilities Commission, which approved the purchase of utility assets and financing. This effort involved guiding compliance with regulatory requirements and collaboration with all parties involved.
In its order approving the purchase of the water utility, the Public Utilities Commission approved a settlement agreement “as filed.” The Commission found that Abenaki would provide “substantial improvements” to data collection and billing systems, and implement “needed system improvements.”
Attorney Leberman helped Abenaki structure the transaction to acquire the water utility assets of Rosebrook, which involved complex financial restructuring and pending insurance claims. Attorney Leberman coordinated closing of the multi-party transaction which included assets at the Bretton Woods intersection of three northern counties
Abenaki Board President Donald J.E. Vaughan stated that, “having Upton & Hatfield by our side throughout all phases of the process was essential due to their experience in PUC regulatory transactions such as this. Further, they provided effective strategic paths from start to finish.”
Upton and Hatfield is gratified to work with progressive clients like Abenaki who are investing in New Hampshire, its traditions, and its opportunities.