Parker Law Suit Finally Over IP: 162.40.210.19 Posted on February 17, 2016 at 04:11:45 AM by Fred Urbuteit
Received the following E-Mail from retiree Ribaya.
Several months ago at the Pension Board meeting I spoke on the agenda.
I asked then Board Chairman Bogush if the Board was going to pursue the recovering of the $856,580.00 the Board spent on this suit.
At a later meeting it was reported that the Insurance Co. rejected the reimbursement of these funds.
Since that time I do not recall any discussion as to if any action would be pursued to collect these funds from the Insurance Co.
Fred Urbuteit
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From:
To: unudobies@aol.com
Sent: 2/16/2016 7:28:35 P.M. Eastern Standard Time
Subj: John Parker lawsuit is officially over
16 February 2016
Retirees,
After 8 years and 8 months the Parker lawsuit is officially over. Approximately 1400 eligible retirees and surviving spouses received over $10 million dollars in benefits that were with held. Our Attorney, Wayne Thomas and his law firm Akerman Senterfitt has been paid.
Here’s the numbers.
Judgement in Parker lawsuit for about $1.1 million in attorney fees in September 2011, grows to $1,349,005.48 due to interest when it was satisfied in February 2015.
15 February 2016 Travelers Insurance Company makes final payment for cost and fees in the Class Action John Parker lawsuit appeal to the Florida Supreme Court. Payment of fees and cost is made for the sum of $1,254,746.35.
Total cost and fees accrued in Parker lawsuit and awarded to law firm of, Akerman Senterfitt from Travelers Insurance is $2,603,751.83.
According to public records, cost to the F&P Pension Fund on the Parker lawsuit as of 31 July 2015 is $856,580.41. As of this date, the insurance company has not covered the $856,580.41.
According to public records, as of 26 March 2015 additional cost of approximately $600,000. was incurred by Travelers Insurance for defense of the Parker lawsuit which includes payment to Attorney Patrick Gonyea, formerly of the law firm Vernis & Bowling and Attorney Bruce S. Rogow to assist with the appeals.
So there you have it $4,060,332.24 cost of the John Parker lawsuit.
Retiree,
Dennis Ribaya
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