The company seeking to build a $240 million biorefinery in East Millinocket has dismissed its lawsuit against the current owner of the shuttered mill, who it accused of backing out of a sale agreement.
EMEP LLC had sued North American Recovery Management LLC, arguing it had negotiated a right to buy the property for $1.75 million. The settlement resolves that claim and NARM’s counterclaim that the lawsuit prevented it from marketing the property to other buyers.
The parties filed notice of the settlement with the court Thursday, but it’s not clear if or when the land would be transferred to EMEP. The Penobscot County Registry of Deeds on Tuesday did not show any transactions transferring the land from ACM NARM Maine LLC to any other parties.