More delays in dissolving St. Clare's Corporation
May 28, 2019 07:20 PM
SCHENECTADY - Retirees from St. Clare's Hospital are still waiting to find out if the group responsible for handling their pensions will be allowed to dissolve.
The St. Clare's Corporation's filed a petition to dissolve back in March, claiming they had no more money to distribute to some 1,100 pensioners.
On Tuesday, representatives with the New York State Attorney General's office asked for more time to review documents detailing the corporation's finances.
Judge Vincent Versaci is allowing more time for discovery in this case. They're looking for more documentation from St. Clare's Corporation that details what happened to the pension funds.
Pensioners are calling the extension a small win.
"One of our concerns going into this whole thing was that it was going to be an open and shut case and they were going to dissolve the corporation which would be bad for us," said Bob Bradley, whose wife is a St. Clare's retiree.
Bradley said there's still an opportunity to use the corporation as a conduit for any funds they may receive.
"So we would like to keep it going and try to dig into what happened and hopefully be able to use it down the road," Bradley said.
Attorneys representing the corporation raised questions about who should be able to view their financial documents. Pensioners said that shouldn't be up for debate.
"We have a right to know what's happening with the pension and what happened to the pension, so we deserve a seat at the table," hospital retiree Karen Bradley said.
Retirees still aren't sure where they can get the $53 million needed to make the pensions whole.
Local lawmakers tried to get half of it allocated in the state budget this year, but that fell through.
Pensioners also met with Bishop Scharfenberger on Tuesday morning to discuss other possible sources of funding, like the Mother Cabrini Fund. Though they said the meeting went well, nothing has been officially decided.
Mary DeTurris Poust, the Director of Communications for the Roman Catholic Diocese of Albany wouldn't comment on the proceedings, but did issue this statement:
"Bishop Scharfenberger continues to work quietly and behind the scenes to do what he can to assist those affected by the St. Clare's pension failure. He is ready and willing to collaborate with any individuals and/or organizations interested in working toward a solution together."
Attorneys representing St. Clare's Corporation did not want to comment.
Updated: May 28, 2019 07:20 PM
Created: May 28, 2019 05:52 PM
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