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Banking & Finance
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Here’s why high net worth people leave Maine
March 24, 2014Mainers with high net worth or substantial income are finding more and more that they can significantly lower their tax burdens — in life and death — by becoming residents of other states.
March 24, 2014Judge awards $104K in damages from Oxford Aviation
March 20, 2014A federal judge has entered a default judgement against Oxford Aviation, awarding $104,000 to an Ohio woman who claimed the company’s failure to properly repair the tail section of a private plane resulted in her family’s emergency landing i
March 20, 2014Canadian officials holding up MM&A sale
March 19, 2014U.S. regulators on Tuesday approved the bankruptcy sale of the Montreal, Maine & Atlantic Railway, which now awaits approval from Canadian authorities expected by June.
March 19, 2014Judge throws out Oxford Aviation owner's bankruptcy
March 12, 2014A judge has thrown out the personal bankruptcy of Oxford Aviation owner James Horowitz, who transferred the company’s assets to himself for $1 in November before submitting his bankruptcy filing.
March 12, 2014Bangor Savings leader stepping down
February 25, 2014James Conlon, president and CEO of Bangor Savings Bank, announced plans to retire June 1, 2015. The bank's board of directors selected the bank’s chief operations officer, Robert Montgomery-Rice, as Conlon's successor.
February 25, 2014Ex-Merrill banker pleads guilty to embezzlement
February 20, 2014A former investment banker for Merrill Merchants Bank and People’s United Bank pleaded guilty Wednesday to charges of embezzling nearly $3 million and evading income taxes.
February 20, 2014Rail crash victims asked to organize
February 20, 2014The bankruptcy trustee for the Montreal, Maine & Atlantic Railway has asked attorneys representing the 47 victims killed in the railroad’s derailment and explosion last year to clarify how they will make decisions or approve
February 20, 2014MM&A to become Central Maine and Quebec Railway
February 18, 2014The winning bidders for the assets of the bankrupt Montreal, Maine & Atlantic Railway plan to rename the company the Central Maine and Quebec Railway.
February 18, 2014Banks, credit unions target elder financial abuse
February 11, 2014Employees at banks and credit unions around the state will get special training to better identify signs of elder financial abuse through a program launched in collaboration with state officials and a legal service nonprofit.
February 11, 2014Former KeyBank loan officer pleads guilty
February 5, 2014A former loan officer for Casco Northern Bank and its successor KeyBank has pleaded guilty to charges of tax evasion and bank fraud that included more than $14 million of fraudulent loans in the names of four other people from 1995 to 2011.
February 5, 2014Bar Harbor Bankshares logs record net income
February 4, 2014Bar Harbor Bankshares, the parent company of Bar Harbor Bank and Trust, closed the year with a record annual net income of $13.2 million, an increase from last year of 5.8%, or $717,000.
February 4, 2014MM&A Railway sues crude oil owners
February 3, 2014The bankruptcy trustee for the Montreal, Maine & Atlantic Railway has filed a lawsuit against the owner and shipment coordinator for the crude oil aboard the train that derailed in the town of Lac-Megantic, Quebec, last July in an accide
February 3, 2014Mitchell hired to negotiate for MM&A victims
January 31, 2014A Chicago law firm representing victims of a deadly train crash last summer in Lac-Megantic, Quebec, has hired former U.S. Sen.
January 31, 2014MDOT supports Searsport harbor dredging
January 30, 2014Maine Department of Transportation Commissioner David Bernhardt told a nonprofit economic development group on Wednesday that dredging Searsport’s harbor is essential to Maine’s capturing a greater share of the growing trade potential along the Ea
January 30, 2014BoA purchases boost Camden National revenues
January 29, 2014Camden National Corp., a $2.6 billion bank holding company based in Camden, reported on Tuesday that its annual earnings for 2013 were $22.8 million, or $2.97 per share, compared to $23.4 million, or $3.05 per share for 2012.
January 29, 2014MM&A deal for $15.9M heads for approval
January 23, 2014A $15.9 million bid from Railroad Acquisitions LLC for the assets of the bankrupt Montreal, Maine and Atlantic Railway will go before a bankruptcy judge today.
January 23, 2014
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