LGC Spin-Off Granted Reprieve By Court
The Supreme Court has decided that Property Liability Trust does not yet have to pay $17.1 million dollars to members of the former Local Government Center.
The PLT is liability, workers’ compensation and unemployment coverage group, was split from the LGC.
That happened after a hearings officer determined it was using money from health insurance premiums to subsidize worker’s compensation for about a decade.
The organization claims doesn’t have the cash on hand to return those funds, “and that’s why the stay was so critical for us today,” said PLT president, Wendy Parker, in an interview. “We were extremely pleased that the court granted our request to stay the payment required, in order to allow us to get to the Supreme Court and hear our arguments and have a final decision made.”
The New Hampshire Supreme Court is likely to hear the appeal mid-November. Parker says bankruptcy is not an option for PLT.