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NorthWestern has two weeks to file appeal |
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By Sioux Falls Business Journal
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Monday, 19 March 2007 |
NorthWestern Corp. has until April 4 to appeal a jury's decision to award $21.4 million to 15 Montana Power Co. retired executives who had their supplemental pensions cut in 2004.
A jury ordered NorthWestern on Feb. 22 to pay $17.4 million to the retirees, and the following day added $4 million in punitive damages.
NorthWestern announced on its Web site Feb. 23 that it plans to appeal.
Defendants in the lawsuit are Northwestern Corp., Gary Drook, Michael Hanson, Roger Schrum and Keith Kovash.
The plaintiffs filed foreign-judgment papers March 13 in Minnehaha County Court because Hanson, the company's chief executive officer, has assets in Sioux Falls but not in Montana, their lawyer, Triel Culver, said by phone.
During November 2004 bankruptcy reorganization, NorthWestern’s board of directors decided to stop paying the supplemental pensions.
Plaintiffs are Lester Ammondson, Catherine Couture, Sherwood Christensen, Stephen Dee, Charles Gilder, John Lohr, Edmond Magone, Elmer Meldahl, John S. Miller, Roger Rawls, C. Daniel Regan, Allen T. Smith, George Thorson, John Van Gelder and Wilhelmus Verbael. |