Attorney for Central Falls receiver: Bankruptcy exit could come soon with approval of payments

CENTRAL FALLS, R.I. — An attorney for the state appointed receiver in Central Falls says the city could submit a final plan to end its bankruptcy case if the General Assembly approves $2.6 million in payments to retirees that are part of a negotiated pension settlement with them.

But The Providence Journal reports that Theodore Orson says the case could drag on for a year if the legislature does not approve the "transition payments" to the retirees and they instead challenge the pension cuts. The comments came Monday in U.S. Bankruptcy Court.

But The Providence Journal reports that Theodore Orson says the case could drag on for a year if the legislature does not approve the "transition payments" to the retirees and they instead challenge the pension cuts.

Receiver Robert Flanders Jr. has said he wants the case to be over by the one-year mark on Aug. 1. City Council President William Benson Jr. told The Associated Press on Monday he too hopes the bankruptcy ends soon.

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Information from: The Providence Journal, http://www.providencejournal.com

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