Bankruptcy involves ‘Carmine’ restaurant entrepreneur

By Steve Green

Tuesday, Dec. 28, 2010 | 1:55 a.m.

The Las Vegas-area commercial real estate market was hit with another sizable bankruptcy filing Monday, this one involving local pizza and Italian restaurant entrepreneur Carmine Vento.

The Vento Family Trust filed for Chapter 11 bankruptcy reorganization in U.S. Bankruptcy Court for Nevada. Detailed financial information wasn't provided in the initial filing, but the trust listed assets and liabilities each topping $10 million.

Vento, who founded the local Villa Pizza chain, in early 2009 told the Las Vegas Sun that after selling the Villa Pizza business in 2000 he was focusing on higher-end Italian restaurants -- most with "Carmine" in the name.

But later in 2009 and continuing this year Vento and his companies have been mired in litigation. Suits were filed against Vento and his companies by the now-failed Community Bank of Nevada, City National Bank and most recently Nevada Commerce Bank.

City National, for instance, in its September 2010 lawsuit charged that Vento and his companies had defaulted on a $2.7 million loan from Sun West Bank, which failed and was taken over by City National. The loan was for development of a bar and restaurant at 891 De Marco Drive in Henderson.

City National said in its lawsuit it foreclosed on the property backing the loan in April, and bought it for $1 million at the foreclosure sale. Its lawsuit against the Vento entities seeks recovery of an unspecified deficiency balance.

The Vento entities also are plaintiffs in several lawsuits, for instance suing 4K Enterprises LLC in a dispute over rental payments allegedly due Vento for Carmine's Little Italy at 445 Marks Street in Henderson.

Vento couldn't be reached for comment late Monday on the bankruptcy filing, which named as creditors Bank of Las Vegas, Bank of Nevada, Bank of North Las Vegas, Service1st Bank of Nevada and other non-bank creditors.