DEBLOIS, Maine — Property that belongs to a biomass company in this Washington County town will be auctioned off today to satisfy an unpaid mortgage held by Prospect Capital Corp.
The property is known locally as Worcester Energy Co. Inc. of Maine and Worcester Energy Partners Inc. of Delaware. The company’s property includes the 22.8-megawatt biomass power plant, ancillary buildings, equipment and 20 acres of adjoining land.
“Prospect Capital Corp. is the lender, and they are foreclosing the mortgage they hold,” attorney Keith J. Cunningham of Pierce Atwood LLP of Portland said in a telephone interview Tuesday afternoon. He is handling the auction.
The auction will take place at 12:30 p.m. at 241 Lane Road in Deblois. All bidders will be required to deposit $500,000 cash or certified U.S. funds made payable to the law firm of Pierce Atwood. Cunningham said that only qualified bidders could participate today.
Aside from the auction, there is at least one Washington County Superior Court filing involving the property.
Davis Forestry Products Inc. of Weston has filed a $101,036 lien against the property. Last month, the District Court judge in Machias approved an attachment ordering the owners to pay Davis Forestry for the wood products Davis supplied to the biomass company.