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Annie Tselikis, executive director of the Maine Lobster Dealers' Association, said China accounted for 15 percent to 20 percent of the export value of US lobsters at the time.

Another shareholder proposal pushed to change that practice, seeking to require the company to no longer count abstentions as votes against shareholder proposals. Shareholders rejected that proposal as well, with 8 percent voting in favor, according to the company.

Any cash from the asset sale will go to its 200-plus creditors, in addition to the payment of wages, litigation claims and legal fees. Other unsecured creditors include marketing company Palisades Media (.7 million), David Boies' law firm Boies, Schiller and Flexner (.7 million), Viacom (.6 million) and Sony Pictures Entertainment (.7 million).

Appeal for elderly

Another hydro-power construction project funded by the Chinese is still ongoing in the central part of the country providing hundreds of jobs to youth.