May 27th, 2010 | by NIGEL JAQUISS News | Posted In: CLEAN UP, Environment, CLEAN UP

Read the Bankruptcy Petition: LNG Failure Leaves Lawyers in Lurch

lng

When Northern Star Natural Gas declared Chapter 7 bankruptcy this month, liquified natural gas opponents cheered. And local law firms took a hit.

Northern Star threw in the towel after years of trying to build an LNG terminal at Bradwood Landing, an old mill site on the Oregon side of the Columbia River in Clatsop County. All the regulatory, legal and political hurdles required lots of lawyers, consultants and spin doctors, who probably won't collect much if any of the monies owed when Northern Star gave up.

In its filings [PDF], (split in two because they are big), Northern Star listed $268,000 in assets and more than $21 million in liabilities.

Among the local law firms holding the bag:

Stoel Rives
, two unsecured claims totaling $1.35 million
Garvey Schubert Barer, $46,000
Dunn Carney, $37,000

Northern Star also owes $280,000 to the Portland office of the Edelman public relations firm.
 
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