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“The owner of John C. Bazzano & Son Inc. acted surely and swiftly in response to our concerns about the company’s finances and pre-paid contracts, and cooperated fully with our investigators in order to craft an appropriate remedy,” Farrell said. “We are all very pleased that a satisfactory sale of the business has taken place, and that the new owners will honor the agreements with the former company’s pre-paid customers.” The sales agreement between seller James M. Conway and buyers James Peacock, Alan J. Boucher, and Robert Peterson states that the buyers will assume responsibility for approximately 300 customers, who are owed approximately $122,000 through existing prepaid contracts. “Thankfully, everyone acted in a way that preserved the rights of the consumers,” Farrell said. “These pre-paid customers will have the option of receiving their prepaid oil or a refund of their prepaid deposit, to be exercised by September 15, 2008. If a customer opts for the oil but cannot take full delivery by September15th, they will be paid a refund of their funds on deposit.” The new owners will operate the company under the name of A. B. Bazzano Fuels, Inc. © Copyright by StamfordPlus.com. Some articles and pictures posted on our website, as indicated by their bylines, were submitted as press releases and do not necessarily reflect the position and opinion of StamfordPlus.com, Stamford Plus magazine, Canaiden LLC or any of its associated entities. Articles may have been edited for brevity and grammar. Related Articles: Gas price investigation continues with subpoenas to wholesalers - Sep 19, 2008 - 1:26 PM Governor Rell: Consumer Protection probing gas price spikes at Cumberland Farms, other retailers - Sep 16, 2008 - 2:55 PM Shays supports comprehensive energy policy - Sep 15, 2008 - 5:16 PM Mayor Malloy joins other leaders to develop climate change blueprint - Sep 15, 2008 - 1:43 PM Commentary: When the oil bubble is fueled by speculators - Sep 15, 2008 - 10:53 AM CURRENT HEADLINES: Top of Page
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