(Deputy Mayor Stephen Chase)
(File Photo)
The city’s pension plan is reporting better returns, as of the end of last year, but is still short alot of money.
Deputy Mayor Stephen Chase is concerned about a big increase in legal fees and he suspects one major reason is the ongoing lawsuit for defamation launched by the Pension Board against former Common Councillor and now City Manager in St. Stephen, John Ferguson.
The legal bills have gone up from just over 30 thousand dollars in 2006 to more than 782 thousand dollars last year. Chase was told by the city’s Finance Commissioner Greg Yeomans the Ferguson lawsuit may account for 60 per cent of the total.
Mayor Ivan Court, who chairs the Pension Board, claims attempts have been made to settle the lawsuit but no to avail.
