The facility and its contents are still owned by Coastal Resources of Maine, the company formed by Fiberight to finance, own and operate the facility. The facility is pledged as collateral for repayment of Coastal Resources of Maine’s loans to a group of bondholders represented by a trustee. As part of the sale process, the MRC anticipates that the bondholders will foreclose on the pledged assets, thereby becoming the owner.
The land in Hampden on which the facility sits is owned by the Municipal Review Committee (MRC), who acts as the landlord. (The MRC also holds all the municipal waste contracts crucial to operations, and we are the permittee for all the DEP waste processing permits.)