PORTLAND PRESS HERALD • October 3, 2020
Oct. 3, 2014: A federal judge orders the bankruptcy case of Great Northern Paper Co. transferred from Delaware to Maine. A lawyer for the towns of Millinocket and East Millinocket, where GNP operated two mills, says at the hearing that the company owes the towns more than $3 million in back taxes. The company, managed by private-equity firm Cate Street Capital, closed its East Millinocket mill in January and laid off 200 workers. When the company filed for bankruptcy, it listed more than $50 million in liabilities and almost 1,000 creditors. The company’s Millinocket mill closed in 2008. Just two days before the federal judge’s GNP ruling. Verso Paper announced that it was closing its paper mill in Bucksport.