GNP creditors petition to move bankruptcy case to Maine, but trustee objects
By Darren Fishell, Bangor Daily News, Maine | |
McClatchy-Tribune Information Services |
But the
"I administer cases all over the country. Very few of [the bankrupt companies] are ever [physically located] in
That sets up a dispute with
Fischer filed a motion late Friday with the
If the case proceeds under his watch, Stanziale said his first priority is finding a buyer that would keep the property in
"The game plan is to try -- and I emphasize the word try -- to get somebody to come in and run a paper mill here," Stanziale said. "It's not like it's never been done, but it has to be good timing and there has to be a need and it has to be the right price."
There are other factors, too, Stanziale said, many of which he hopes will be hashed out in the next 30 days. That process will be illuminated by completion of the company's bankruptcy filing, which did not include several required documents detailing specific accounting of its assets and debts. GNP has until
Fischer, whose clients claim they are owed a collective
The motion filed Friday states that 652 of the 1,159 creditors listed in
The filing also indicated that roughly 20 other creditors have already obtained court judgments against
A spokesman for
One matter of public interest in the bankruptcy case is the company's management of a wastewater treatment plant on its property that processes waste for about 800 residences.
"Things are still running smoothly at this point," she said.
The motion also states that the looming issue of winter heating should be decided in
Stanziale said he hopes that a potential buyer could be identified in the next 30 days to take on that question and others. But if not, he said the building has been prepped for the winter and that he planned to speak Monday with
The three creditors represented in the motion -- Hartt Transportation Systems of
The
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