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Sanford residents not surprised by Boyce Hydro LLC bankruptcy filing

Court records show Boyce Hydro filed for Chapter 11 in the Eastern District of Michigan July 31st.
Published: Aug. 4, 2020 at 5:54 PM EDT
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FLINT, Mich. (WJRT) -Sanford resident Diane LaLond doesn’t hold back her feelings when reacting to news that Boyce Hydro LLC-- the owner of the mid Michigan dams that failed in May have filed for bankruptcy.

“He’s a coward, that’s the easy way out,” said Sanford Resident, Diane Lalond

“What are these people supposed to do? Some people lost everything,” she said.

Court records show Boyce Hydro filed for Chapter 11 in the Eastern District of Michigan July 31st.

“That’s not a surprise. I did not hear that, but I’ve heard rumors that they might,” said Sanford business owner and resident

Anthony Iafrate is now rebuilding both his home and his building-- both heavily damaged by the widespread flooding that impacted Midland and Gladwin counties.

More than a hundred and 60 creditors are listed in the bankruptcy filing--- including Michigan Attorney General Dana Nessel's office.

But I think when this happened, I just assumed nobody was going to help anyways,”

Property owners and the state of Michigan have filed numerous lawsuits against Boyce for their alleged failure in maintaining the dams which contributed to the failures of the dams.

You know ultimately, after the dam breach you have two dams that are not generating any operating revenue and the two dams were still functioning-- gives you an order to turn them off and still doesn’t let you turn them on. So if your business is basically shutdown by government and you can’t earn operating revenue , you run out of cash,” said Boyce Hydro attorney, Lawrence Kogan.

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