Skip to main content

Verso Asks Bankruptcy Judge to Decide Valuation Spat with Maine Town

Submitted by jhartgen@abi.org on

Verso Corp. has asked a bankruptcy judge to step in and decide whether the town of Jay, Maine, should hand back as much as $11.4 million in taxes assessed during the past three years, the Bangor (Maine) Daily News reported today. The company’s request comes as Verso has three appeals of its most recent tax bills pending before a state review board and local review boards. The town plans to argue the disputes should stay at the state and local levels. A hearing on Verso’s request is scheduled for today in U.S. Bankruptcy Court in Delaware. The company’s 2013 tax year appeal is set for a hearing May 9 and 10 before the Maine Board of Property Tax Review in Augusta, Maine. Read more.

Get additional insights and analysis on valuation topics by picking up a copy of ABI’s A Practical Guide to Bankruptcy Valuation