Ex-Owner of Gnp Denies Charges Allegations Include Mismanagement

Summary

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BANGOR - Lambert Bedard, the former owner of now-defunct Great Northern Paper Inc., denied recently in court documents that he mismanaged the company's operations or committed fraud against one of its major creditors - claims made against him in two federal lawsuits.

Bedard defended his management style and the decisions that were made by himself and the company's board of directors over a three- year period to keep afloat a paper operation stressed for cash and severely affected by a pricing downturn in the paper industry.

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Extract

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Ex-Owner of Gnp Denies Charges Allegations Include Mismanagement

Bedard outlined his defenses in two responses to two separate lawsuits filed in November by the trustee of Great Northern's bankrupt estate, Bangor attorney Gary Growe, and the company's major creditor, Boeing Capital Corp. of Long Beach, Calif., a subsidiary of aerospace giant Boeing Corp. The lawsuits are in U.S. ...

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