Stinktown blows pension wad on frivolous lawsuit

Image Source: Benefits Canada
This whole Stinktown pension-defamation debacle will go down in the annals of NB history as the most ridiculous waste of taxpayer money of all time. It's hard to imagine a better way to prove the man's point than to blow several million dollars trying to defend the reputation of the insider clique who oversaw the nearly $200 million dollar pension shortfall. It's incredible that this action wasn't thrown out of court, the poor people sitting on the jury for 9 weeks over this garbage must be ready to kill someone. Saint John civil servants and citizens will pay the price for this malfeasance, the only question left is how big the final price tag will be. - Dan F.

Pension board's legal fees approach $2M in defamation case
Anonymous - CBC News
March 16th, 2012

The Saint John pension board’s legal fees in its defamation action against a former city councillor are approaching $2 million, not including the past 15 months, the Court of Queen’s Bench heard on Thursday.

The board has been paying those legal fees using the pension fund, which has a $193-million deficit, the court heard.

The pension board is suing John Ferguson for allegedly defamatory comments he made in 2005 and onward about the board's handling of the pension fund, which had a $47-million deficit at the time.

The case has become a source of concern to plan members, a trustee testified on Thursday.

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