D&L Energy files for bankruptcy, company more than $1 million in - 21 News Now, More Local News for Youngstown, Ohio -

D&L Energy files for bankruptcy, company more than $1 million in debt

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YOUNGSTOWN, Ohio - A Friday hearing is scheduled in bankruptcy court for two Youngstown companies owned by a man facing criminal charges for alleged environmental violations.

Ben Lupo, the embattled founder of D&L Energy, is seeking chapter 11 bankruptcy protection for D&L Energy and Petroflow Inc. on Salt Springs Road. According to court documents filed Tuesday in Youngstown, D&L has more than $50 million in assets and more than $1 million in debt.

Another document said Petroflow owes more than half a million dollars to more than fifty creditors and has less than $50,000 in assets.

According to the D&L Energy website, Petroflow is a well tending, or pumping company responsible for the routine maintenance and management of wells.

Lupo, recently charged with violating the Clean Water Act, has resigned as trustee and director of the company, handing the reins to his wife, Holly Serensky Lupo. He is charged with violating the Federal Clean Water Act after allegedly ordering an employee of one of his other companies, Hardrock Excavating, to pour drilling waste into a Youngstown storm drain.

Authorities say that waste made its way to the Mahoning River. The Ohio Department of Natural Resources has temporarily suspended D&L's permits pending a future hearing.

 

 

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