Based upon a letter hand delivered by Paul Kelley to the Lincoln County Superior Court yesterday, March 21, 2017, it appears that Clary Lake dam owner Pleasant Pond Mill LLC has filed for Bankruptcy. I picked up a copy of the letter today (see below). The letter doesn’t offer much information so it is not known at this time what kind of bankruptcy Mr. Kelley is pursuing. We’ll just have to wait and see! There are 2 kinds of bankruptcy available to corporations in Maine and the type chosen depends on whether one intends to liquidate (Chapter 7) their company, or attempt to reorganize it (Chapter 11).
Clary Lake Association
Preserving and Protecting Clary Lake
PPM has filed for Chapter 7 bankruptcy, meaning liquidation, not reorganization.