Consolidated Glass Holdings, J.E. Berkowitz Bankruptcies Filed, Creditors Listed

Several creditors—almost 200 pages worth—are listed in documents pertaining to the bankruptcies of Consolidated Glass Holdings (CGH) and J. E. Berkowitz’s (JEB).

On July 14, 2021, J.E. Berkowitz filed a voluntary petition for relief under title 11 of the United States Code in the United States Bankruptcy Court for the District of Delaware along with affiliates Columbia Commercial Building Products Acquisition, Consolidated Glass Holdings Inc. and Shaw Glass Holdings LLC. This followed reports earlier this year of the company’s closure.

According to the bankruptcy filing, CGH creditors include CIGNA, Fortuna Consulting and Kennedy Architectural Sales, among others. SJC Onshore Direct Lending, with a claim of $500,000, is the only listed as a secured claim.

JEB has an estimated 200-999 creditors and assets of an estimated $100,001 to $500,000. It is listed as having estimated liabilities between $50,000,001 and $100 million.

The only company listed as a creditor with a claim secured by property is SJC DLF III-F, whose claim is listed at more than $85 million.

Among the entities with unsecured claims are Vitro Flat Glass, which is said
to be owed $527,230.03 and C.R. Laurence Co., listed with a claim totaling $129,255.51. The pending status of the case is listed as awaiting the 341 Meeting, a meeting between creditors and debtors during a Chapter 7 bankruptcy filing.

Former Turner Execs Sentenced for Tax Evasion and Bribery

Former Turner Construction executive Ronald Olson was sentenced in Manhattan federal court to 46 months in prison for evading taxes on more than $1.4 million in bribes, according to the Department of Justice. Olson was vice president and deputy operations manager for Turner Construction, a firm that served as a contractor for Bloomberg LLP.

According to court documents, between 2011 to 2017, Olson, accepted more than $1.4 million in unlawful payments from subcontractors. These were paid through cash deliveries of approximately $1.45 million, construction services and materials for projects at his residence and his beach house as well as other services. Olson did not report these payments on his 2011 to 2017 tax returns.

According to the IRS, Olson pled guilty on July 29, 2020, to a single count of tax evasion for the tax years 2011 through 2017. In addition to the prison term, Olson was sentenced to three years of supervised release, and ordered to pay restitution of $661,519.57 in unpaid taxes and interest.

He was just one of four executives sentenced in part of the scheme. According to the IRS, “co-conspirator Anthony Guzzone, a former director of global construction at Bloomberg, was sentenced on January 19, 2021 … to 38 months in prison, for evading taxes on more than $1.45 million in the same scheme; Michael Campana, a subordinate construction manager at Bloomberg, was sentenced on July 24, 2020, to 24 months in prison, for evading taxes on more than $420,000.

In addition, Vito Nigro, a construction manager at Turner, pleaded guilty to evading taxes on more than $1.8 million in bribes that he received in the same scheme, and was sentenced on July 1, 2021, to 51 months in prison.

According to court documents, between 2011 to 2018, Nigro, accepted more than $1.8 million in unlawful payments from subcontractors. Nigro took cash from at least five different subcontractors totaling more than $1.35 million, and also caused subcontractors to pay more than $350,000 to third parties for materials and services to be used at his personal residence and elsewhere, according to court documents.

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