EAST MILLINOCKET, Maine - The trustee for a bankrupt Maine paper mill is asking a federal judge to approve the sale of the mill's equipment and buildings.
The Portland Press Herald reports a company called GNP Acquisition is offering to buy the Great Northern Paper mill in East Millinocket for $2.6 million. An attorney for the trustee says the company is not interested in purchasing the land, but would have the option to buy it for $350,000.
Federal bankruptcy Judge Louis Kornreich is scheduled to consider the motion to approve the sales agreement at a Friday hearing in Bangor. The president of Connecticut-based auction company Capital Recovery Group signed the asset purchase agreement on behalf of GNP Acquisition. Other parties still have the ability to bid on the shuttered mill.