Saturday, January 08, 2000
Firm owned by Voinovich's brother files for bankruptcy
The Associated Press
CLEVELAND — The V Group, a company owned by U.S. Sen. George Voinovich's brother, filed for bankruptcy Friday to try to recover after losing a multimillion dollar lawsuit.
A jury last month ruled that the V Group, an architectural and construction company, must pay $13.3 million to Jefferson County because of problems with work on a county jail.
Paul Voinovich, owner of the Cleveland-based company, which is not affiliated with the senator, said the filing under Chapter 11 in U.S. Bankruptcy Court would have no effect on the company's operations.
“This will allow to focus on existing obligations and future work,” Paul Voinovich said in a news release Friday.
The company has not made a decision on whether it will appeal the jury's verdict, spokesman Tom Andrzejewski said.
Jefferson County hired the V Group in 1992 to design a 140-bed jail. Construction was completed almost 19 months behind schedule and cost about $10 million more than expected.
The company blamed county commissioners for most of the delays and increased costs.
Jefferson County attorney Stephen Stern said the county has assembled a team of prosecutors, investigators, and other experts to track down V Group assets in an effort to collect the verdict.
“We don't believe for one minute the V Group, a company that solicited public contracts across the country by touting their expertise and political connections, is now unable or unwilling to honor a federal jury verdict,” Mr. Stern said.
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