LAWSUITS NEWS & LEGAL INFORMATION
Workers Compensation
This is a settlement for the Workers Compensation lawsuit.
Frankfort, KY: (Apr-25-08) A lawsuit was brought against AIK Comp and several of its former officers and trustees, alleging that it withheld pay benefits to injured workers. The suit named several others as defendants, including AIK Comp's sponsoring organization, its auditor and its actuary for alleged failures in the operation, management and sponsorship of AIK Comp.
Sources familiar with the dispute stated that in a recent development in the case, Judge Thomas D. Wingate of the Franklin Circuit Court approved a settlement in the dispute, in which AIK Comp will pay $5 million on behalf of former officers and trustees, resolving the litigation. However, the order does not end any actions filed against other defendants, including AIK Comp's sponsoring organization, its auditor and its actuary for alleged failures in the operation, management and sponsorship of AIK Comp. Records reveal that the company, a self-insured workers' compensation fund, entered rehabilitation in August 2004 and former member businesses have been assessed over $90.7 million to fulfill the fund's benefit obligations. [WORKERS COMPENSATION: KENTUCKY JUDGE APPROVES SETTLEMENT IN AIK COMP CASE]
Published on Apr-29-08
Sources familiar with the dispute stated that in a recent development in the case, Judge Thomas D. Wingate of the Franklin Circuit Court approved a settlement in the dispute, in which AIK Comp will pay $5 million on behalf of former officers and trustees, resolving the litigation. However, the order does not end any actions filed against other defendants, including AIK Comp's sponsoring organization, its auditor and its actuary for alleged failures in the operation, management and sponsorship of AIK Comp. Records reveal that the company, a self-insured workers' compensation fund, entered rehabilitation in August 2004 and former member businesses have been assessed over $90.7 million to fulfill the fund's benefit obligations. [
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