PORTLAND, Maine (AP) — The owners of two Maine inns will file for bankruptcy to avoid looming foreclosures.
The Bangor Daily News reports the Camden Harbour Inn and the Danforth Inn are scheduled for foreclosure auctions on March 29. Co-owner Raymond Brunyanszki says he and his business partner, Oscar Verest, are working on filing Chapter 11 bankruptcy protection to stop the auctions. Brunyanszki says they never received a notice from Bar Harbor Bank and Trust.
Bar Harbor Bank and Trust’s attorney, Charles Remmel, says the bank’s law firm notified the owners’ attorney about the foreclosure auction.
Brunyanszki says the properties’ current financial struggles stem from an agreement Bar Harbor Bank and Trust didn’t fulfill. He says it cost the businesses $1 million in expenses.
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Remmel denies Brunyanszki’s claims and says the bank tried to work with the owners.
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Information from: Bangor Daily News, http://www.bangordailynews.com