Iron Miners
It is currently Fri Nov 24, 2017 2:15 pm

All times are UTC - 5 hours [ DST ]




Post new topic Reply to topic  [ 4 posts ] 
Author Message
 Post subject: Huber Breaker
PostPosted: Sat Mar 06, 2010 9:20 pm 
Offline
User avatar

Joined: Thu Apr 02, 2009 7:16 pm
Posts: 479
Location: Anthracite Region of PA
No. 1 Contracting files for bankruptcy
By Bob Kalinowski (Staff Writer)
Published: March 6, 2010


The construction company operated by the man who owns the historic Huber Breaker in Ashley has filed for bankruptcy, further clouding the future of the area's most visible reminder of its coal-mining past.

Alvin Roman on Thursday filed a Chapter 11 bankruptcy claim on behalf of his Ashley-based No. 1 Contracting Corp. in U.S. Bankruptcy Court for the Middle District of Pennsylvania.

In the filing, Roman reported the business owes between $1 million and $10 million and has less than $50,000 in assets.

It remained unclear Friday what the bankruptcy means for the Huber Breaker, which is located off Main Street in Ashley and could be seen by motorists on Interstate 81.

Roman and his attorney Ronald Santora did not respond to phone calls and e-mails placed Friday afternoon and evening.

For years, Roman has negotiated with groups trying to save the hulking structure made of steel and glass that was used for decades to process anthracite coal. An attempt by Luzerne County commissioners to take control of the 14-acre property was abandoned in 2008 when officials worried they'd be stuck paying Roman's estimated value of the property, $7 million, if they proceeded further. The county believed the property was worth about $740,000.

At several points, Roman threatened to dismantle the breaker and sell the metal, saying salvagers offered him hundreds of thousands of dollars for the breaker's high-grade steel.

Roman bought the breaker in 1997 for $25,000. It is among the few remaining coal breakers standing in the United States. It closed in 1976.

No. 1 Contracting is a heavy construction company founded in 1960 by Roman, a licensed engineer, according to its Web site. The Web site said the business employees 250 people.

bkalinowski@citizensvoice.com, 570-821-2055

_________________
Scott K
"Watch Your Top"


Top
 Profile  
 
 Post subject:
PostPosted: Sat Mar 06, 2010 9:50 pm 
Offline

Joined: Sat Oct 29, 2005 8:32 pm
Posts: 788
This actually could be a good thing for the breaker. ( bad for Roman) To the creditors the breaker is a liability. It would actually cost more to tear the place down then they would make in scrap. So ANY amount they reeived for the breaker would be a profit for them. ( to pay themselves) BUT on the other hand being such a liability it could be raised to protect them ( creditors) from any would be accidents and subsequent law suits) So I guess once and for all good or bad the Hubers future may be finally settled. And the offers of thousands of dollars for the high grade steel ? I dont believe that for a second. Asbestos abatement is expensive. And the breaker is full of it. No one would want to touch the place, except for a haz mat company. Again by the time someone paid for the removal of asbestos and various other hazards, the amount recived for the steel wouldnt cover it. Ie. no profit involved in scrapping the place. Only persons its worth anything to is a preservation group.


Last edited by miner490 on Sat Mar 06, 2010 9:53 pm, edited 1 time in total.

Top
 Profile  
 
 Post subject:
PostPosted: Sat Mar 06, 2010 9:53 pm 
Offline
User avatar

Joined: Fri Jul 15, 2005 2:34 pm
Posts: 6906
Location: Within 60 Miles of the Northern Anthracite Field
ah, dont go getting too excited a corporation filing for bankruptcy is just a way to restructure and loose some debt. im sure theyll all be going to work on monday.

_________________
Come over to the Dark Side....... We have Cookies!


Top
 Profile  
 
 Post subject:
PostPosted: Sun Mar 07, 2010 8:53 pm 
Offline
User avatar

Joined: Sat Jan 02, 2010 7:57 pm
Posts: 28
Location: NEPA
Chris wrote:
ah, dont go getting too excited a corporation filing for bankruptcy is just a way to restructure and loose some debt. im sure theyll all be going to work on monday.

Not sure it worked with Lehigh Coal...lmao

_________________
Everyone's Goal is to Mine More Coal


Top
 Profile  
 
Display posts from previous:  Sort by  
Post new topic Reply to topic  [ 4 posts ] 

All times are UTC - 5 hours [ DST ]


Who is online

Users browsing this forum: No registered users and 3 guests


You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot post attachments in this forum

Search for:
Jump to:  
cron
Powered by phpBB © 2000, 2002, 2005, 2007 phpBB Group