The bondholders for the closed $250 million paper recycling plant in Hagerstown have filed for bankruptcy involuntarily on behalf of the partnership that owns the plant, officials said Monday.
The bondholders filed for Chapter 7 on behalf of Hagerstown Fiber Limited Partnership on Dec. 17 in U.S. Bankruptcy Court in Greenbelt, Md., according to court records.
Joseph J. Bellinger, who represents First National Bank of Maryland, the trustee for the bondholders, would not comment Monday. He works for Miles and Stockbridge in Baltimore.
"It's as frivolous as the Chapter 11. OK, here we go again," said Robert Harris, assistant to Carl C. Landegger. Landegger is chairman of Pencor First Fiber Inc., the partnership's original general partner.