Skip to main content

Newark Watershed Asks Bankruptcy Judge for Help with Insolvent Pension Woes

Submitted by ckanon@abi.org on
Trustees of the Newark Watershed Conservation and Development Corp. have asked a bankruptcy judge for a break from its obligations relating to the agency’s insolvent pension plan, the New Jersey Law Journal reported. Counsel for the Watershed group asked U.S. Bankruptcy Judge Vincent Papalia on Tuesday to void claims for pension benefits by the agency’s former executive director, Linda Watkins-Brashear, and Donald Bernard Sr., its former senior projects manager. The Watershed also asked the judge to reduce or eliminate a claim for more than $1.8 million by the U.S. Pension Benefit Guaranty Corp., which represents the amount that agency says is needed to make the pension plan solvent. The trustees are represented by Daniel Stolz of Wasserman, Jurista & Stolz in Basking Ridge, N.J.
Article Tags