A New Hampshire continuing care retirement community facing financial issues is being sued by two former residents seeking a refund of their entry fee, which totaled more than $400,000.
The couple, Bruce and Nancy Montgomery, claim that Hillside Village Keene owed them a refund after they moved out last year, looking for a place where Bruce Montgomery could get the care he needed for memory issues, according to the New Hampshire Union Leader.
The not-for-profit organization that operates the CCRC announced earlier this year that it was looking for a buyer after it did not make a $2 million bond payment in January. In lieu of a buyer, the company may file Chapter 11 bankruptcy, Sentinel Source reported at the time. The CCRC reportedly has debts of more than $63 million.
Nancy Crawford, chair of the Hillside Village board, told the New Hampshire Union Leader that the pandemic challenged the community to reach a sustainable level of occupancy after it was constructed — occupancy was approximately 70% in March. The community opened in 2019.
According to the lawsuit, the community changed the entry agreement after the Montgomerys moved in due to financial stress. The Montgomerys said they were told this year that under the new agreement, the CCRC does not need to refund the entrance fee.
