Judge Krichbaum appoints receiver for Youngstown Thermal

YOUNGSTOWN — Judge R. Scott Krichbaum of Mahoning County Common Pleas Court has appointed Reg Martin as the receiver of Youngstown Thermal, a downtown utility company in financial straits.

Martin runs Martin Management Services in Columbus. The court-appointed receiver takes over companies in financial struggle.

He has the authority to take possession, manage and operate the business, which provides heating and cooling services to customers in the downtown area, including the city. The receiver is to get the company’s finances in order.

The Ohio Public Utilities Commission of Ohio had the Ohio Attorney General’s office ask the judge to appoint a receiver after it discovered the financial struggle of Youngstown Thermal could cause an energy crisis in downtown Youngstown.

Youngstown Thermal told PUCO it could not meet its payroll expenses and pay its utility bills. PUCO commissioners are to meet Wednesday to approve surcharge rates for customers, so the company’s payroll expenses can be met.

For the complete story, read Wednesday's Vindicator and Vindy.com