Louisiana Pellets project bond trustee announces $1.69 million lien

By Caroline Salls

Pittsburgh, Jan. 21 – Louisiana Pellets, Inc.’s Louisiana Public Facilities Authority solid waste disposal facility revenue bonds trustee said a $1.69 million mechanics and materialman’s lien has been filed against the Louisiana Pellets project site.

In a letter released as part of a notice from bond trustee Wells Fargo Bank, NA, Louisiana Pellets’ counsel said the lien was filed by Southern Industrial Construction, LLC for grading, concrete and steel work labor, equipment supplies and/or materials.

As required by the bond loan agreement, the letter said Louisiana Pellets was attempting to have the lien bonded or released by Jan. 9. However, the bond trustee said the lien was not bonded or released by that date.

As previously reported, the construction manager for the Louisiana Pellets project said that there are very few personnel at the project site and that the electricity was turned off at the project as of Dec. 22. The trustee said the company’s counsel confirmed that the project is not operational.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.