Posted: Apr 10, 2010 11:11 AM by Associated Press
Updated: Apr 10, 2010 11:29 AM
A Florida company has agreed to pay $9.9 million to take over the closed Renew Paper mill near St.
U.S. Bankruptcy Judge Douglas Dodd, who ordered a court-supervised auction, said he would enter a sale order Monday. The Advocate of Baton Rouge says that clears the way for Amzak
Capital Management LLC to take control of the mill and 610 acres of
property within two weeks.
Amzak financed West Feliciana Acquisition's $16 million purchase of the mill in 2009.
West Feliciana Acquisition filed for bankruptcy protection after running into a dispute with its contractor. The mill's February closure put about 200 people out of work.