Judge allows Seven Counties to declare bankruptcy
Kentucky taxpayers have already spent a half-million dollars in a court fight to keep a nonprofit Louisville mental health agency from fleeing the state's troubled pension system.
Judge Joan A. Lloyd has ruled that Seven Counties Services is eligible to file Chapter 11 bankruptcy, and that they are a non-governmental unit.
The decision will allow Seven Counties to pursue a reorganization plan to protect the business operations, "including discharging and past and future obligations to the Kentucky Retirement System", according to a press release.
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