What amazes me is that its some construction company with a relatively small lien, and not the town or IRS filing to auction. Either way, once the mill is auctioned Cate Street/GNP 2.0 will have no operable assets in the Katahdin valley. I would imagine this will lead to a prompt closing of the Cate Street (though some would argue, not prompt enough) chapter of Millinocket/East Millinocket's history.
Link: http://bangordailynews.com/2014/09/17/b ... 2000-debt/
Fair Use Quote:
Bangor Daily News wrote:EAST MILLINOCKET, Maine — A Glenburn construction company owed more than $242,000 by Great Northern Paper Co. has received a court judgment against the struggling mill owner and has scheduled an auction of the mill to recoup the debt.
The auction enforces a mechanic’s lien placed on real estate and buildings at 50 Main St., the paper mill’s address, which was recorded on Jan. 28, said attorney Edmond Bearor, who is also handling the case. Maine Superior Court Ju stice Ann Murray ruled on May 20 that Northern Construction Services could sell the land and buildings encumbered by the lien in 90 days, according to documents filed with the court and the Penobscot County Registry of Deeds.