California general contractor Finn Construction filed a voluntary petition for Chapter 7 bankruptcy on December 11, 2020, according to the US Bankruptcy Court for the Central District of California. The GC reported outstanding debt of nearly $1.4 million to 116 creditors, 88 of which are contractors and material suppliers.
Related: View Finn Construction’s recent payment history & subcontractor reviews
Finn Construction, which holds its headquarters in Simi Valley, CA, lists in their bankruptcy filing that they have earned $0 in gross revenue since 2019.
At the time of their bankruptcy filing in December of 2020, Finn Construction reported having:
- $1,393,554 in total liabilities
- $723,597.41 in total assets (all receivables)
- $0 in total checking
The last time Finn Construction reported earning any gross revenue was in 2018. That year, the general contractor reported having earned $990,371 in gross revenue. The company’s contractor license with the CSLB expired in July 2020.
List of Creditors from Finn Construction’s Chapter 7 Bankruptcy Filing
In the filing, Finn Construction reported 7 secured creditors and 109 unsecured creditors. During a bankruptcy, secured creditors typically have collection priority over unsecured creditors.
At the time of their bankruptcy filing, Finn Construction reported having 109 unsecured claims worth a combined $1,101,535.
Unsecured
Finn Construction listed unsecured debts worth $1.1 million due to 109 creditors:
- A Rod Electric – $2,593.00
- ACR Professional Plumbing – $5,800.00
- Action Fire Pro – $4,860.00
- All Area Plumbing Inc – $34,042.00
- All County Fire Protection Inc. – $13,664.00
- Allied Storage Containers – $5,586.00
- Alpine Marble Restoration Inc. – $11,600.00
- American Carpet & Flooring – $5,100.00
- Amort Construction, Inc. – $36,870.00
- Anning-Johnson Company – $1,610.00
- Apec Inc. – $2,494.00
- Aqua Backflow & Chlorination Inc.- $150.00
- AVE Sheetmetal Inc. – $2,393.00
- Big K Concrete Coring & Cutting – $800.00
- Building Electronic Controls Inc. – $9,738.00
- Cal-West Fire Protection Specialist – $9,353.00
- California Painting and Drywall – $1,804.00
- California Pro Painting Inc. – $4,270.00
- Commercial Custom Seating – $16,046.00
- Competitive Electric – $59,961.00
- Culbert Construction & Plumbing Inc. – $29,895.00
- Diamond Environmental Services LP – $419.00
- Dimarco Plastering Specialist – $45,250.00
- El Centro Air & Electric – $15,606.00
- Emmons Roof Service – $2,014.00
- Extreme Air Conditioning & Heating – $2,902.00
- Firstchoice. – $8,533.00
- Floor Connection Inc. – $6,181.00
- Fusion Windows & Doors – $6,020.00
- Glass Emporium Contract Glazing – $10,000.00
- Green Crew Landcare Inc. – $541.00
- GT Door Inc. – $12,725.00
- Hansen Steel Services – $2,735.00
- Houseley Demolition Co. Inc. – $10,010.00
- Imperial Painters Inc. – $7,424.00
- Imperial Valley Scrap Masters – $7,452.00
- Independent Concrete Cutting Inc. – $148.00
- JF Prieto Engineering Construction – $5,326.00
- Just Everything Heating & Air – $56,543.00
- K & D Welding Inc. – $6,895.00
- KW Concrete Coring & Cutting – $2,800.00
- M & M Sheet Metal & Rain Gutter Co. – $900.00
- Marjan Stone Inc. – $3,836.00
- Miltimore Tile Inc. – $9,855.00
- Mobile Mini – $8,081.00
- MTB Construction – $5,000.00
- Murr Co. Plumbing – $23,743.00
- National Construction Remediation – $945.00
- Natural Polishing Concrete – $850.00
- OmniTeam Inc. – $2,166.00
- One Source Distributors, LLC – $35,568.00
- Orange Coast Plumbing – $55,715.00
- Original Sid Blackman Plumbing Inc. – $16,732.00
- P&E Construction Inc. – $10,812.00
- P.W. Stephens Environmental, Inc. – $3,998.00
- Pacifclean Commercial Cleaning – $500.00
- Pena Plastering – $7,436.00
- PeopleReady Inc. – $1,253.00
- Progressive Insulation & Windows – $4,785.00
- Prospec Inc. – $890.00
- Quickwire Electric Inc. – $193.00
- R.E.F. Industries, Inc. – $1,385.00
- RB Concrete Cutting Inc. – $19,273.00
- Rhino Concrete Pumping – $11,350.00
- Robert’s Concrete – $21,850.00
- RP Designs Inc. – $2,600.00
- Russell Roofing Inc – $230.00
- S. CA Overhead Door Co. Inc. – $292.00
- San Luis Marble – $19,474.00
- Shires Electric – $31,811.00
- South Bay Heating & AC Inc. – $11,405.00
- Southwest Demolition Inc. – $7,329.00
- Stone Age – $425.00
- Stumbaugh & Associates Inc. – $308.00
- Superior Stucco & Plastering – $670.00
- Sure Flow Plumbing Inc. – $2,943.00
- Surfacing Solutions Inc. – $51,099.00
- Systematix LLC – $1,094.00
- Tabarez General Contracting – $1,080.00
- Temperatures Unlimited, Inc. – $3,660.00
- Tri-County Fire Inc. – $408.00
- Tucker National Service Center. – $3,489.00
- United Rentals Inc. – $2,615.00
- United Site Services – $910.00
- US Paving Inc – $69,749.00
- Waste Management – $2,096.00
- Watertight Plumbing Inc. – $39,356.00
- Xpress Concrete Inc. – $3,886.00
Secured
Finn Construction listed seven secured claims — all tax liens — totaling $292,019.
The California Franchise Tax Board owns three separate secured claims worth a combined $18,690.
The IRS has the remaining four secured claims with Finn Construction, valued at $273,329.
What is Chapter 7 Bankruptcy?
Chapter 7 of Title 11 in the U.S. bankruptcy code involves the process of liquidating a debtor’s assets in order to pay back their creditors. Such assets to be sold off to creditors include the debtor’s nonexempt property.
According to the IRS,
“[Chapter 7 bankruptcy] is available to individuals who cannot make regular, monthly, payments toward their debts. Businesses choosing to terminate their enterprises may also file Chapter 7. Chapter 7 provides relief to debtors regardless of the amount of debts owed or whether a debtor is solvent or insolvent. A Chapter 7 Trustee is appointed to convert the debtor’s assets into cash for distribution among creditors.”
USCourts.gov lists eligibility requirements in order to legally file for Chapter 7 relief. One such requirement is that the debtor must have no prior Chapter 7 filing discharged in the preceding eight years. Another eligibility requirement involves the debtor passing a means test.
Finn Construction Involved in Three Court Cases in Ventura County
Dating back to June of 2016, the bankrupt Finn Construction has been tied to three separate complaints in civil court, according to records from the Ventura County Clerk’s office.
The most recent complaint regarding collections was filed on July 29, 2019 by American Express against Finn Construction. One month later on August 29th, the case was dismissed.
On January 22, 2019, Granite State Insurance filed a complaint for collections. On March 22, 2019, Granite State Insurance received a judgment award of $24,014.94.
Finn Construction was also involved in an unlawful detainer case that was filed on June 3, 2016 from plaintiff SRGMFII Country Club Simi Valley LLC. According to Ventura County records, the plaintiff was awarded $4,130.40 via a judgement verdict on October 12, 2016.