Status hearing for Able Industries continued
by Mindy Aguon
Guam - Able Industries was expected to provide an update on their efforts to pay employees and their debts during a status hearing today, but the matter was continued until next week. During the last hearing, the court released $265,000 so the company could make payroll.
Able is seeking the release of the remaining $500,000 while a former trustee has asked the court to put a receiver in charge of the company. Able remains under investigation by the U.S. Department of Labor, which has already found that the organization failed to pay more than a half-million dollars in retirement benefits to its employees.
Another status hearing is scheduled for December 30.