05 July 2018: No Sale Today, Bankruptcy Case Continued

I had hope to be able to tell everyone today that the U.S. Bankruptcy Court had approved the sale of the Clary Lake dam to the Clary Lake Association, but that announcement is going to have to be postponed for a few weeks. Thanks to objections raised by Richard Smith and Paul Kelley, today’s hearing which should have resulted in a quick decision approving the sale instead turned into a day-long evidentiary hearing with numerous parties taking the stand and testifying, and being cross examined. Court started at 9 AM and finally adjourned at 4:30 PM. A hearing for oral arguments will scheduled sometime the week after next (the week of July 16th) at a time and place to be announced. While there is little question whether the judge will eventually approve the sale to the CLA, there are questions regarding the restrictive covenants which need to be answered. Smith’s and AQF’s objections to the sale and to the scraping of the covenants provided a considerable diversion today, but ultimately I have no doubt that we’ll end up owning the dam. Patience people. We’ve been waiting 7 years for this. A few more weeks won’t hurt.

I wanted to get something posted as soon as possible because I know there are lots of people anxiously awaiting word after today’s hearing. I’ll provide additional details about today’s hearing at a later date and will post an audio transcript of today’s hearing when it becomes available.

This entry was posted in Clary Lake Dam, Court Action, Department of Environmental Protecion, Personal Bankruptcy, PPM Bankruptcy, Water Level Order. Bookmark the permalink.

2 Responses to 05 July 2018: No Sale Today, Bankruptcy Case Continued

  1. Karen says:

    Thanks so much for the updates. So appreciate everyone ‘s efforts.

    • Thank you Karen. Yesterday was a delay, not a loss. The evidentiary part of the proceeding is over, it took longer than I had expected but Smith and Kelley failed to introduce any damning information. The court IS going to sell us the dam, the only question is how that sale is going to be structured. Either way, we’ll end up with the dam free and clear.

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