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Asphalt plant owner files for bankruptcy

Last fall, a paving contractor began building an asphalt plant in Lopatcong Township, New Jersey.

In 2018, Intercounty Paving Associates LLC began building an asphalt plant in Lopatcong Township. However, the family of companies that owns the plant recently filed for Chapter 11 bankruptcy. (File Photo by Brian Pedersen) –

Though the project faced legal battles, significant community opposition and approval delays, Intercounty Paving Associates LLC ultimately got township approval in 2012 to build the plant at 189 Strykers Road in Warren County.

However, according to court records, the Hackettstown, New Jersey-based firm filed for Chapter 11 bankruptcy.

Court records list Lizza Equipment Leasing LLC as the owner of the plant, and at the same address as Intercounty Paving, 859 Willow Grove St. in Hackettstown. Lizza plans to sell the plant at a hearing set for 10 a.m. tomorrow in U.S. Bankruptcy Court in Trenton, New Jersey.

Dan Stolz, a bankruptcy lawyer from the firm Wasserman, Jurista & Stolz of Basking Ridge, New Jersey, confirmed that the preliminary hearing would be Sept. 24. Stolz’s firm is representing Lizza in the case.

If the court authorizes the sale, it will schedule a date to accept bids for the plant, Stolz said.

Though the plant requires some additional work to become operational, all the equipment is there, Stolz said.

Court documents show the proposed sale would include the land and the asphalt plant for a total of $8 million.

Carl Lizza, president of Intercounty Paving did not return requests for comment.

“This is a result of overall financial stress, particularly because the family of companies that owns the plant expanded too quickly,” Stolz said, in response to the bankruptcy filing. “They didn’t have the cash available to finance the plant.”

According to its website, Intercounty Paving has an office in Westbury, N.Y., and is a large, full-service construction company that employs more than 300 people annually. Its customers include Pennsylvania Department of Transportation, New Jersey Department of Transportation, and the New Jersey Turnpike Authority.
Once it opened, the asphalt plant would have produced and recycled asphalt and brought 200 trucks a day through the township up Route 519 from Strykers Road to Route 22 where they have access to Interstate 78.
The site is next to Precast Manufacturing Co., a pre-cast concrete product supplier, and near several other businesses.

 

Brian Pedersen
Reporter Brian Pedersen covers construction, development, warehousing and real estate and keeps you up to date on the changing landscape of our community. He can be reached at brianp@lvb.com or 610-807-9619, ext. 4108. Follow him on Twitter @BrianLehigh.

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