Dear MRC Members and Interested Parties

 

We want to alert you to a development regarding the Coastal Resources plant that we believe will enhance our prospects of new investment.

 

The bondholder trustee has placed Coastal Resources of Maine into receivership, meaning that there is now a person, on the ground, in Maine who will have authority to make decisions.

 

We believe this is a positive step because up to now, all final decisions had to go through the bondholder trustee and legal counsel in Boston, which was not an efficient means of doing business.

 

Having a Maine-based receiver will both relieve the MRC of tasks it had assumed in order to keep the plant secure as well as help move the process along more efficiently with any potentially new investors.

 

The  MRC looks forward to working with the receiver and the prospective investors that have submitted letters of interest.

 

We do not expect that receivership status will affect MSW disposal activities for members.

If you have any questions on this matter, please contact MRC Board Member Bob Butler at   [email protected] or (207) 837-1785.