10 April 2017 Central Maine Papers: Whitefield Dam Owner Files For Bankruptcy Protection

A new Central Maine Papers article by KJ staff writer Jessica Lowell appeared on-line last night and will be in today’s print edition. It is about Pleasant Pond Mill LLC’s [PPM] mind-boggling decision to file for bankruptcy, it also contains the necessary background to acquaint the reader with the basic facts of the story if they’re coming into this mess cold. The article contains a few mistakes (alternative facts?) which however do nothing to detract from it’s otherwise accurate and fair reporting. You have to admit, after 5+ years, our story has gotten pretty hard to follow. This is the first newspaper article about Clary Lake in over a year, and in my opinion it is overdue (shift-click to open link in a new tab):

http://www.centralmaine.com/2017/04/09/whitefield-dam-owner-files-for-bankruptcy-protection/

The article suggests that Medius L3C (the current owner of the mortgage on the dam) has foreclosed on the dam property. This is in fact not true: Medius L3C didn’t foreclose on the dam property, they *tried* to foreclose on the dam property. In a botched Power of Sale Foreclosure Auction on January 29, 2016 (see 01 February 2016: About that Dam Auction) they tried but failed to foreclose. “Power of Sale” as a means of foreclosure is not a valid option for all mortgages, and more importantly, not for the mortgage in question, so nothing ever came of it. Nonetheless DSC_0807it was, truly, a dog and pony show of the highest caliber, wonderfully orchestrated by Mr. Kelley himself who sat in his red Ford Fiesta in the Lincoln County Court House parking lot, watching the event unfold (picture, at left). In a Power of Sale foreclosure, the parties are required (under Title 14, MRS, Section 6203-B) within 30 days after delivery of the deed to the purchaser, to record a copy of the foreclosure notice and an affidavit at the County Registry of Deeds stating that they fulfilled all the requirements of a foreclosure sale under a Power of Sale. No such recording occurred, and as the article correctly points out further on, the PPM Bankruptcy Filing lists the dam property as an asset in its foreclosure estate. I guess that means Mr. Kelley thinks he owns it.

It isn’t entirely clear what else Mr. Kelley might be thinking as he embarks on this next and likely final episode of his self-inflicted saga:

What’s more, Kelley said, whether the structure is a dam is an open question, and if it’s not, he said it’s not clear that it could legally impound water.”

Great quote. Good luck with that Mr. Kelley. As I sit here writing, I’m looking at a lake out my window with a water level less than 1 foot below the top of the dam. It is perfectly clear to me and should be to anyone else not in denial that the Clary Lake dam is really a dam, and it is not breached but is in fact is quite capable of impounding water.

Here’s an archived copy of the article:

Whitefield Dam Owner Files For Bankruptcy Protection

2 thoughts on “10 April 2017 Central Maine Papers: Whitefield Dam Owner Files For Bankruptcy Protection

  1. George Fergusson Post author

    I would encourage people to leave comments on this article on Central Maine Papers website. It is easy enough to do and well worth the effort to let readers know how you feel about this ongoing travesty.

    Just Do It.

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