How does the bankruptcy impact FLTF’s ability to acquire the properties through eminent domain (condemnation)?
At this time, it is not clear. The only two entities that filed are Boyce Hydro, LLC and Boyce Hydro Power, LLC. The real property interests are held by other Boyce entities that did not file for bankruptcy protection. At the present time, the counties are proceeding with efforts to acquire the property by condemnation.
Condemnation is a legal process that gives local, state or federal government agencies the power to take private property for public use, so long as the owner is paid fair compensation. This is also known as eminent domain.
On July 31, 2020, FLTF filed condemnation lawsuits in Midland and Gladwin county circuit courts. There will be a hearing to determine the just compensation concerning the properties. In the end, we are confident FLTF will be able to acquire the properties.