The Tribune

By NATARIO McKENZIE

Tribune Business Reporter

nmckenzie@tribunemedia.net

Former employees of the now-defunct City Markets will have to wait at least a fortnight to find out whether they are closer to a resolution in the more than four-year battle to receive their pensions and due severance pay.

Dozens of former City Markets employees assembled at Chief Justice Hartman Longley’s court for a scheduled hearing on the matter yesterday.

However, the Chief Justice was said to be out of the Bahamas and the case had to be adjourned to March 29.

Whanslaw Turnquest, City Markets’ former chief inventory control officer, told Tribune Business: “We had a court hearing scheduled for this morning, but unfortunately the Chief Justice is out of the jurisdiction.

“We met before Justice Evans and he put the case off until when the Chief Justice returns. What should have happened was that the accountants would have presented their figures to the Chief Justice, and he would have given some sort of directive on what will happen.

“We will have to wait until next week to find out when the employees will receive their pension and severance money.”

Accountants working for representatives of both the former employees and the City Markets pension fund trustees have been working for several months to determine the list of pension beneficiaries, and the sums due to each one.  

City Markets closed down permanently back in 2012, when it was employing 350 persons and over 500 pensioners.

Rouschard Martin, of Martin, Martin & Co, attorney for the former City Market employees, said yesterday: “We thought we would have some sort of resolution or definitive position. When we come back, we are hoping that we can present the judge with the information from the accountants, and the judge can make a decision one way or the other.

“There were only two accountants involved in this matter originally. The Finlaysons [City Markets’ last majority owner] have got a new lawyer, and that new lawyer has brought in another accountant to look at the proposal that we put forward to settle the matter. They don’t agree with the figures we have proposed.”

Mr Turnquest added: “We are at a very substantial figure. The other side made an adjustment which Mr Martin is going to look at, and we are going to come to a determination on that.”