San Tan Valley Area Information

2 minutes reading time (302 words)

George Johnson Sues ACC for $450M

George Johnson Sues ACC for $450M

That order was given August 29, 2018 and Jeffrey Crockett, an attorney for Johnson Utilities, notified the ACC that Johnson Utilities would comply with the order.  That same day, George H Johnson, through his revocable trust and Johnson Utilities, filed a $450M law suit against the Arizona Corporation Commission, claiming the ACC had not offered to compensate the trust or Johnson Utilities and had subsequently acted to "deprive the trust and Johnson Utilities of its right of ownership under Arizona law".

Neither the GHJ Trust nor JU was allowed to negotiate, or even provide input on the terms of the relationship with an interim manager.  The GHJ Trust and JU object to the imposition of any interim manager, as it constitututes an inverse condemnation without just compensation, alternatively, it constitutes a regulatory taking and further, improperly interferes with JU's contractual relationships.

The suit claims that "JU and the GHJ Trust firmly believe that the imposition of the interim manager will deprive JU and the GHJ Trust of the entire value of JU, not only on a temporary basis, but that the imposition of the interim manager will cause long lasting and severe diminution or destruction of the value of JU."

The GHJ Trust and JU will however "settle the matter for $450,000,000.00".

Read the full suit here.

As of the 2:00 p.m. deadline, August 30, 2018, Johnson Utilities had turned over access to the financial systems to Epcor and the Interim Manager agreement that had previously been suspended had been reinstated.

[READ MORE: EPCOR Reinstated as Interim Manager]

Letter from Epcor to Johnson Utilities Customers
Teachers protest following AZ Supreme Court ruling...

Related Posts

 

Comments

No comments made yet. Be the first to submit a comment
Already Registered? Login Here
Guest
Sunday, 15 December 2019
If you'd like to register, please fill in the username, password and name fields.

Captcha Image

15 Dec
SO THIS IS CHRISTMAS: American Idol Edition
Date 12.15.2019 2:00 pm - 5:00 pm

Stay Informed!

Get the the latest news, events, business info and more sent directly to your inbox, for FREE, by subscribing to any or all of our newsletters!
santanvalley_logo_17.png
SanTanValley.com is your #1 resource for anything in and around San Tan Valley, AZ.  Focusing on uniting and promoting all that San Tan Valley has to offer for our visitors and residents, SanTanValley.com provides you with local area information & events, local business information, travel ideas, news, traffic alerts, deals, and more!


© 2019, SanTanValley.com is owned & operated by MyBizNow LLC. All Rights Reserved. Material displayed is not to be used without written permission by SanTanValley.com representatives. You may not reproduce or communicate any of the content on this website, including articles, content, images and files downloadable from this website, without the written permission of SanTanValley.com representatives. Opinions and comments posted by viewers do not reflect the opinions of SanTanValley.com.

Search