Ruling Could Hamper Maxxam Refinancing: A Humboldt...
From Times Staff and Wire Reports
Ruling Could Hamper Maxxam Refinancing: A Humboldt Superior Court judge has ruled that any prospective buyer from or lender to Maxxam Inc.’s Pacific Lumber forest products unit must be told that a pending lawsuit could award Pacific Lumber’s estimated $2.5 billion in timberland to the filer of the suit, Robert Martel of Redway, Calif. The ruling denied a motion by Maxxam to remove from the suit a lis pendens, or notice of pending action. The presence of such a notice makes it more difficult for Maxxam to sell or refinance its subsidiary.
