Article: Red Shield financing delayed

OLD TOWN - Employees at Red Shield Environmental will have to wait until September to learn the fate of the mill that they were hoping would be restarted by the end of this month.

A hearing scheduled Wednesday to determine whether a financing agreement that would allow Red Shield to borrow $13.6 million from Woodside Capital Partners of Massachusetts has been postponed until Sept. 2.

"The continuance is an opportunity for all the parties to try and resolve some things relating to the financing," Red Shield attorney Bob Keach of Portland said Wednesday.

After filing for Chapter 11 bankruptcy in June, Red Shield and its affiliate, RSE Pulp & Chemical LLC, received permission in late July to ...

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