CBO Glass Denies Allegations Made Against It in Pension Fund Suit
June 1, 2012

by Penny Stacey, pstacey@glass.com

CBO Glass in Alden, N.Y., has responded to a suit filed by the International Painters and Allied Trades Industry Pension Fund alleging that the company has "failed to pay amounts due under [its] Labor Contracts, Trust Agreements and Plan." The company has denied the allegations made against it and two of its officials, Gilbert DiMaio, president and CEO, and Paul F. Hogan, principal.

In addition, the company alleges that it "paid to plaintiffs some or all of the amounts plaintiffs claim are due and opening, and that the plaintiffs have "released some of or all of their claims against the company defendants."
CBO also ask the court to dismiss the complaint with prejudice in its response.

In the March 30 complaint, the Fund alleged that "in order to resolve a delinquency, on or about November 14, 2011, Lawrence Gildersleve, vice president and CFO of CBO Glass, signed a promissory note on behalf of the companies pursuant to which the funds and companies agreed that the companies owed the fund $319,650.42 in contributions, interest and liquidated damages for the period of May 2011 through August 2011."

The Fund further alleged that the company "defaulted on the note by failing to submit the settlement installments and by failing to submit remittance reports and contributions for the period of December 2011 through February 2012."

This is one of at least two lawsuits CBO Glass currently is facing. Just last month, several local unions filed suit against the company alleging that the terms and conditions of a recent Collective Bargaining Agreement were not met. Unions filed that suit after payments from the months of November 2011 to March of 2012 (totaling $156, 959.14) were not made, according to the complaint. At press time, the company had not yet responded to that complaint.

This story is an original story by USGlass magazine/USGNN™. Subscribe to USGlass magazine.
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