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March 28, 2016

Lincoln Mill intellectual property sold to liquidators

A group of asset liquidators led by the Gordon Brothers Group of Boston have acquired the trademarks, patents and other intellectual property of the former Lincoln Paper and Tissue mill for $75,000.

The sale, which was cleared by a Portland bankruptcy judge on Friday, will now allow the mill’s new owners to sell papermaking equipment that uses “patented methods, specific product recipes or proprietary software” according to the Bangor Daily News.

More than 50 employees of the former mill have objected to the sale, saying that it will likely put a nail in any possibility of resuming production at the mill.

The mill workers asked the court for more time to organize a group of possible investors to make a counteroffer on some of the equipment, but no other objections were filed by the court’s March 15 deadline.

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