Owners of inns in Camden and Portland to file for bankruptcy
The Camden Harbour Inn and its restaurant Natalie’s, as well as the Portland-based Danforth Inn and its restaurant Tempo Dulu, are up for foreclosure auction on March 29.
The Bangor Daily News reported, however, that co-owner Raymond Brunyanszki of Portland said the owners plan to file for Chapter 11 bankruptcy for both inns to prevent the auctions from taking place and allow for continuing negotiations with Bar Harbor Bank and Trust, which holds the mortgages on both properties.
Brunyanszki told the BDN that the current situation is the result of an “ongoing disagreement” between the LLCs that operate the inns and the bank. He alleged that Bar Harbor Bank and Trust made commitments that it has not fulfilled, costing the businesses about $1 million in added expenses during the past year.
But an attorney representing Bar Harbor Bank and Trust disputed the allegation that the bank failed to abide by the agreement, adding that the bank had tried working with the owners but proceeded with the foreclosure when they failed to meet financial obligations spelled out in the agreement, according to the BDN.
Brunyanszki told the BDN the businesses are hoping to negotiate a contract with the bank, but if that proves unsuccessful they are prepared to allow the bankruptcy court to decide what is fair.
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