Please do not leave this page until complete. This can take a few moments.
The attorneys of Lincoln Paper and Tissue LLC filed a notice of private sale and expedited hearing motion with the U.S. Bankruptcy Court in Portland, a motion that would allow the paper and tissue company to sell $75,000 of its intellectual property rights as early as Feb. 23 in an effort to find a buyer to operate one of the mill’s paper machines.
The buyer, Gordon Brothers Group of Boston, bought the Lincoln mill for $5.95 million during the paper company’s Chapter 11 bankruptcy filing in December. The Boston-based investment firm plans to sell the intellectual rights to an unknown third party, according to The Bangor Daily News.
According to the court motion, the sale to the unknown third-party buyer because “certain of the [intellectual property] assets are needed to operate the machine at issue and the buyer is conditioning the sale on certain of the [intellectual property] assets relating to the paper machine being made available as part of the sale.”
“Further, the debtor has determined that a private sale is preferred for the [intellectual property] assets given that the costs attendant with a public auction would increase the burden to the estate and decrease any return of the sale to the estate.”
Read more
Future of Lincoln paper mill in doubt after liquidation firm wins auction
Buyer of Lincoln paper mills says it will look for operator
Natural gas expansion in Lincoln delayed due to mill closure, lower heating oil prices
Looking to start your own paper mill? We've got a deal for you
Former Great Northern mill under new ownership — again
Workers 'blindsided' by Madison mill closure
Lincoln Mill intellectual property sold to liquidators
As auction begins, Lincoln Mill workers look towards possible restart
The Giving Guide helps nonprofits have the opportunity to showcase and differentiate their organizations so that businesses better understand how they can contribute to a nonprofit’s mission and work.
Learn MoreWork for ME is a workforce development tool to help Maine’s employers target Maine’s emerging workforce. Work for ME highlights each industry, its impact on Maine’s economy, the jobs available to entry-level workers, the training and education needed to get a career started.
Learn MoreFew people are adequately prepared for all the tasks involved in planning and providing care for aging family members. SeniorSmart provides an essential road map for navigating the process. This resource guide explores the myriad of care options and offers essential information on topics ranging from self-care to legal and financial preparedness.
Learn moreThe Giving Guide helps nonprofits have the opportunity to showcase and differentiate their organizations so that businesses better understand how they can contribute to a nonprofit’s mission and work.
Work for ME is a workforce development tool to help Maine’s employers target Maine’s emerging workforce. Work for ME highlights each industry, its impact on Maine’s economy, the jobs available to entry-level workers, the training and education needed to get a career started.
Few people are adequately prepared for all the tasks involved in planning and providing care for aging family members. SeniorSmart provides an essential road map for navigating the process. This resource guide explores the myriad of care options and offers essential information on topics ranging from self-care to legal and financial preparedness.
In order to use this feature, we need some information from you. You can also login or register for a free account.
By clicking submit you are agreeing to our cookie usage and Privacy Policy
Already have an account? Login
Already have an account? Login
Want to create an account? Register
In order to use this feature, we need some information from you. You can also login or register for a free account.
By clicking submit you are agreeing to our cookie usage and Privacy Policy
Already have an account? Login
Already have an account? Login
Want to create an account? Register
This website uses cookies to ensure you get the best experience on our website. Our privacy policy
To ensure the best experience on our website, articles cannot be read without allowing cookies. Please allow cookies to continue reading. Our privacy policy
Comments