Magistrate stresses Youngstown Thermal's importance to community

YOUNGSTOWN

Magistrate Timothy Welsh of Judge R. Scott Krichbaum's court told those in attendance at a Youngstown Thermal hearing today that the court intends to keep a close eye on the case because of its importance to the community.

Youngstown Thermal is now under control of a receiver appointed by Judge Krichbaum in early August.

Today, the receiver, Reg Martin, of Martin Management Services in Columbus, provided an update to the court on the receivership.

"We've made a lot of progress and we are going to continue this progress," Martin said.

Youngstown Thermal is a utility company that provides heating and cooling to a combined 45 downtown Youngstown customers.

Earlier this summer, the company told the Ohio Public Utilities Commission about its financial hardship and concern of an energy crisis if the commission didn't intervene. The commission then worked to have a receiver appointed to get the company's finances in order.