Suit alleges Lincoln mill directors pocketed settlement money

LINCOLN, Maine (Portland Press Herald/EDWARD D. MURPHY) -- A lawsuit filed this week in U.S. Bankruptcy Court alleges that board members of Lincoln Paper and Tissue opted to pocket a payout from an insurance company rather than put the money toward repairing a boiler that exploded at the plant in 2013.

READ FULL ARTICLE IN PORTLAND PRESS HERALD.

The suit, filed by creditors of the bankrupt paper mill, said the decision to buy pulp and electricity that the boiler had helped produce turned the mill from profitable to unprofitable and ultimately led to a bankruptcy filing a year ago.

 

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