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Judge approves N. Idaho lumber mill sale

A judge in northern Idaho has authorized the sale of 3 Rivers Timber Inc. at Kamiah to a Seattle commercial fisherman.

Second District Judge John H. Bradbury on Friday signed the order allowing Michael Burns to pay $2.65 million to acquire the real estate and equipment from the mill that shut down in November 2008.

Bradbury also ruled that the deal cannot be finalized before noon on June 21. That gives Portland, Ore.-based Iverness Inc., the company administering the assets of the defunct mill, time to accept a higher bid if it is more than $2.8 million.

Wells Fargo foreclosed on former owners William and Shirley Mulligan for defaulting on millions of dollars in loans.

Inverness had been trying to sell the property for $6 million.


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