The company moved back to Bridgeport with a lot of hoopla, now it appears Fletcher Thompson must jump through hoops to repair its financial reputation. From High Bailey, CT Post:
Bridgeport architectural firm Fletcher Thompson, which must repay $485,000 in retirement funds improperly taken from employees’ accounts, is facing a lawsuit over nearly $100,000 in apparently unpaid insurance premiums.
Zurich American Insurance Co.based in Illinois, in December filed suit in federal court claiming that Fletcher Thompson failed to pay $99,794.67 for policies in 2011 and 2012. The company is seeking damages in the same amount plus interest, attorney fees and costs.
As of March, Fletcher Thompson had not responded to the complaint in court, leading Zurich American to seek a default judgment in its favor.
Full story here.
So are we to believe the city of Bridgeport had no knowledge of the financial problems facing Fletcher Thompson? That the city does not perform any due diligence on companies before granting multi-year tax breaks?
Or is it more believable to think the city knew exactly what they were getting into but Finch made an election-year choice to roll the dice and hope nothing would come to light until after November?
I thought Fletcher Thompson was only leasing the space, and the building owner, Forstone Mechanics, is paying, or not paying, the taxes.
Personal property taxes.
Makes you want to barf! Eight-year tax deal on personal property taxes. Marcinek or should it be Marcisneak is a dheater at the highest level. I know someone who could VOW for that!
I am not an attorney, but …
If you go to the state of CT judicial website under Civil Matters you will see a number of outstanding lawsuits (many of which seem to have some sort of settlement that has not been lived up to) alleging Fletcher Thompson owes more than $1,000,000. Paging the CT Post!!! If I can do this much research on the financial viability of this firm, so can you.
Finch Timpanelli and Scinto LLC, of course, will be shocked to learn of this.