Rokstad Power acquires the ability to buy certain MBI assets; makes voluntary donation towards unpaid benefits to Local 126
Rokstad Power has purchased a banks security interest in the assets of MBI, an insolvent business, which includes the banks security interests in available trucks and tools. Due to MBI’s insolvency, the company failed to make union contributions and meet other financial obligations.
During the asset purchase process, through conversations with Local 126, Rokstad Power became aware of unpaid dues incurred by MBI. These unpaid dues were previously unknown to Rokstad Power, nor were they a debt incurred by Rokstad Power. There was and is no affiliation or arrangement to avoid any payment of union obligations.
Having maintained successful relationships with unions across North America, Rokstad Power understands the importance of strong partnerships that treat workers well. To support its new relationship with Local 126, Rokstad has agreed to make a voluntary donation to Local 126 to assist with contribution shortfalls. Rokstad looks forward to a positive and strong relationship with the members of Local 126.
About Rokstad Power
Rokstad Power is a private ownership team made up of Bernie Rokstad and his son Aaron Rokstad. Bernie Rokstad has owned a company in the line trades business since 1982 and has been a union contractor since he began. In these 40 years, every financial obligation to a union hall or vendor has been met. Of note, Rokstad Power has always been a union contractor and does not have any non-union companies or affiliations like many other line contracting companies do.
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