The dispute between Adak Seafood LLC and its reluctant landlord, Aleut Enterprise LLC, appears to be sailing toward resolution.
Lawyers on Monday filed this notice in federal court in Anchorage saying the parties "have reached an agreement in principle to settle" the case.
You'll recall that Aleut went to court back in January to evict Adak Seafood over a lease dispute.
Presumably, the settlement will allow Adak Seafood to stay in the Adak Island fish plant and operate during the upcoming cod season.
The parties pledge to file a progress report within three weeks on their negotiations to finalize the deal.
Rumor has it that Adak seafood LLC, though they finally have a deal with Aleut corp, are now insolvent again when the bank financing it backed out. Basically Adak is Bankrupt again.
ReplyDeleteCan anyone confirm?