Todd Berning in an Instagram post from EPIC Management from May 2, 2024, celebrating the anniversary of his employment with the company. EPIC's offices closed suddenly a few weeks later.
MINOT, N.D. (KFGO) – Todd Berning, the former CEO of EPIC Companies, owes a Minot bank over $3 million according to a foreclosure notice recently filed in Ward County District Court.
The foreclosure notice says Henry Land Holding LLC took out a mortgage in August 2021, for two properties in Minot. Ward County tax records show that the Henry Land Holding offices, 400 10th St. SE, are owned by EPIC Holdings LLC, a subsidiary of EPIC Companies.
Benring and two of his associates, Brian Kounovsky and William Gokey II, signed commercial guaranties, which say they would be responsible for the debt if Henry Land Holding failed to make payments. Kounovsky is the former Vice President of EPIC, and a Fargo realtor. Gokey is the Vice President of Northern Bottling Company, the Pepsi distributor in Minot, Dickinson, and Devils Lake.
According to the foreclosure notice filed October 18, Henry Land Holding owes Bravera Bank $3,006,900.82. The company had taken out a loan for $3,043,710 on August 13, 2021 from United Community Bank. Bravera Bank took over United Community Bank last October.
On September 4, 2024, the mortgage defaulted. Because previous attempts to serve Berning in person have been unsuccessful, the foreclosure notice has been served through the mail. Six companies associated with EPIC are also listed as defendants.
EPIC Companies closed suddenly in May 2024. Since then, several properties the company had owned or managed have changed hands, Including The Lights in West Fargo. EPIC filed bankruptcy in July.
Few public officials have commented on the sudden closure of the once-prominent developer. KFGO News has tried repeatedly to contact Berning and his associates, but none have been successful.
Comments