The federal bankruptcy court has allowed State Rep. John Martin and a partner to buy back their Eagle Lake convenience store for $125,000 even though they owe almost $300,000 to a variety of creditors, including the IRS. Martin, a Democrat, has been a power in state government going back to the 1960s. He was speaker of the house an unprecedented 10 terms and currently serves on the committee with oversight of the state’s $6 billion budget. He is running for reelection from House District 1, which includes Eagle Lake and Fort Kent. While some creditors may be paid in full and others in part, some may not be paid at all, depending on a report from the trustee appointed by the court half way through the court proceedings. Continue Reading →
