Judge Approves Kentucky settlement in case AIK Comp
Frankfort, KY. (Comp News Network) - an agreement on ‘, including a payment of $ 5 million on behalf of the former officers and directors of the AIK Comp was Franklin Circuit Court Judge Thomas D. Wingate.
The contract was signed on April 17 approving an agreement on the Philadelphia-Versicherungs-Gesellschaft to pay money, the maximum amount under the training of professional liability insurance for former officers AIK Compacts and trustees. According to John Burkholder, acting Director of the Office of Kentucky, the insurance sector and AIK Comp rehabilitator, which are $ 5 million for deficit reduction, funding and benefits of injured workers.
The settlement agreement requires all requests for dismissal against former officers and trustees and enters a bar order, “the future of prohibited any action against the company officials.
However, the order is not yet the end of all acts against other defendants, including sponsorship AIK Comp’s organisation, their auditors and actuaries for its alleged failures in the operation, management and sponsorship of AIK Comp.
AIK Comp, assured himself a Workers’ Compensation Fund, which entered rehabilitation in August 2004, and former member of the company were found to be more than $ 90.7 million for the achievement of Bond Fund.
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