Bankruptcy Filing Delays Campground Sale

February 18, 2009 by   - () Comments Off on Bankruptcy Filing Delays Campground Sale

The auction Tuesday of an oceanfront property in Birch Harbor, Maine, has been delayed because the owner has filed for bankruptcy, according to people involved in the scheduled auction.
Ocean Wood Campground and its owner, James Brunton, owe more than $7 million to Schoodic Point LLC, which holds the mortgage on the property, according to John McVeigh of Portland, attorney for Schoodic Point LLC, the Bangor Daily News reported.
Schoodic Point LLC had moved to foreclose on the property and had scheduled an auction for Tuesday morning (Feb. 17). According to Mike Carey of Tranzon Auction Properties, the auction is a required part of the foreclosure process.
The bankruptcy filing delayed that process.
What might happen with the campground, a 148-acre waterfront parcel in the village of Birch Harbor, has been the subject of local interest because of concerns among some area residents that it could become part of a proposal to build a large resort on nearby undeveloped land on the Schoodic Peninsula. The developer of the proposed project, Winter Harbor Properties Inc., owns 3,300 acres on the Schoodic Peninsula and has a right of first refusal to buy the campground.
Conservationists, including officials with Acadia National Park and Friends of Acadia, have expressed concerns about possible development on the Winter Harbor Properties parcel, which abuts the Schoodic section of the park, because of the impact such development could have on the park and the peninsula’s relatively pristine character.


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