NewLand Nursery & Landscaping property was scheduled to be auctioned Jan. 28, but the auction was called off. FILE PHOTO

NewLand Nursery auction cancelled; owner files for Chapter 13 bankruptcy

ELLSWORTH — A foreclosure auction of the NewLand Nursery & Landscaping property scheduled for Thursday at 10 a.m. was cancelled after owner Steve Elliot filed for Chapter 13 bankruptcy.

A line of cars was seen exiting the 124 Bangor Road property minutes before the Keenan Auction Co. owners were to start the bidding.

Auctioneer Stef Keenan said interested parties had traveled from as far as Aroostook County and southern Maine to bid.

Chapter 13 bankruptcy rules state that a creditor may no longer pursue collection activities when a debtor files for bankruptcy, according to the Findlaw website. As soon as a debtor files the appropriate paperwork and pays a filing fee, an automatic stay takes effect.

“An automatic stay prohibits creditors from further attempts to collect a debt,” Findlaw states. “This means that any lawsuit proceedings must cease … and the debtor’s property and income are safe from seizure.”

Elliot said the nursery will continue doing business as usual.

“This forced us to take a look at our business and make some refinements and some improvements,” Elliot said. “I used to think bankruptcy was a negative thing. It’s an opportunity to make sure everybody’s happy. I’ve learned a lot. My focus now is to continue on and get my good name back.”

A public notice printed in Section III, Page 3 of the Dec. 24, 2015 Ellsworth American stated the public sale was “for breach of the conditions of said mortgage, and for the purpose of foreclosing the same … there will be sold at public sale at 124 Bangor Road, Ellsworth, Maine, being on or near the mortgaged premises, beginning at 10 a.m. on Thursday, Jan. 28, 2016, the real property subject to the mortgage.”

Camden National Bank holds the bank note.

Elliot is represented by Peter Plumb of Murray, Plumb and Murray in Portland.

Tanya Sambatakos of Molleur Law Office in Portland is Elliot’s bankruptcy attorney.

“This is a reorganization proceeding,” said Plumb. “The business is alive and well and it just ran out of time in finding new financing to take Camden National Bank out of the picture. We fully expect the business will be reorganized, its creditors will be paid and life will go on for Steve and his business.”

The business is operating as usual, Plumb said.

Jennifer Osborn

Jennifer Osborn

Reporter and columnist at The Ellsworth American
News Reporter Jennifer Osborn covers news and features on the Blue Hill Peninsula and Deer Isle-Stonington. She welcomes tips and story ideas. She also writes the Gone Shopping column. Email Jennifer with your suggestions at [email protected] or call 667-2576.
Jennifer Osborn

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