by Mindy Aguon
Guam - More than 200 employees of Able Industries who have been waiting for their paycheck from two weeks ago will finally be getting paid. Today in court the company, through Attorney Mark Smith, requested the court release $265,000 to pay payroll for November 4 and tomorrow. The court granted the release of the money from an account that is holding $800,000.
Attorney Smith revealed that Able has been unable to meet payroll because the military has been late in paying the company, but able expects $730,000 to be paid within the next 45 days. Smith said that money would be used to pay ASC Trust for retirement contributions for employees as well as the outstanding line of credit with First Hawaiian Bank.
Able CEO and president Ken Leon Guerrero noted, "The court released the money to pay the employees."
Former Able Board of Trustees member Eddie Yokeno is suing the company and the current board members, alleging he was improperly removed from the board. He has asked the judge to put a receiver in charge of the company that is the largest employer of individuals with disabilities on the island.
Judge Vern Perez will hold another status hearing on December 19.