900K+ Documents Reviewed in Filing Lawsuits, Says St. Joseph Pension Fund Receiver Del Sesto on LIVE
900K+ Documents Reviewed in Filing Lawsuits, Says St. Joseph Pension Fund Receiver Del Sesto on LIVE
“This started in Aug 2017, when St. Joseph’s petitioned the pension plan into receivership,” said Del Sesto. “From that point forward we’ve had a number of hearings — those that I needed to present to the court — so the court was aware, investors, the pensioners.”
Del Sesto noted that St. Joseph’s had asked for a 40% cut at the time to pensioners benefits — which he fought.
“Special counsel got a huge dump of documents in a short amount of time — all in all — special counsel can talk to [numbers] in particular, but it’s about 900,000 documents that had to be reviewed, were reviewed and that led up to what was filed with the court late Monday,” said Del Sesto.
Del Sesto noted that the amount of information gathered already was unusual in a lawsuit process.
“For this process, the unique aspect — typically, when you file a lawsuit, you have some info, you file the lawsuit, and you assert claims,” said Del Sesto. “We [had already] received about 900 pages give or take — we’ve reviewed all of it.”
Del Sesto spoke to what he said are the next steps in the legal proceedings — which he expects to take months.