Vivot Group Files for Bankruptcy Amid Financial Crisis, Lender Lawsuit

USVI construction giant faces over $56 million in debts following unpaid dues from Limetree Bay Services bankruptcy, and a lawsuit from lender Touchmark National Bank

The Vivot Group of Companies, known for full-services commercial construction in the U.S. Virgin Islands, has filed for bankruptcy, according to court documents seen by the Consortium.‌

Jean Patrick Vivot, president of the group of companies, is asking the court for joint administration of the bankruptcies, filed individually by each of the 10 companies in the group – Vivot Equipment Corporation, Eleven Construction, PSI Tire Supply, Axis Development, TTA Logistics, Valdez Industrial Group, Caribbean Crane & Rigging, Vivot Industries Virgin Islands, Abacus International and Vivot Equipment. According to the filing, the group owns almost $64 million worth of equipment, tools and vehicles (based on costs at the time of purchase), and an additional $19 million in real property. The Vivot Group collectively owes just over $56 million in secured debt, according to the filing. The group’s main creditor is Touchmark National Bank, a financial institution based in Georgia, which Vivot reportedly owes a collective $31 million. The Group also owes a reported $13.5 million in unpaid taxes.