U.S. Supreme Court Denies Writ in Group Trust Assessment Case

The U.S. Supreme Court has denied review of a New York appellate court ruling upholding the State Workers' Compensation Board's authority to assess the solvent members of failed group trusts to pay off the claims left behind after the state took control.The assessments – intended to cover an estimated $966.8 million in liabilities left by the 58 trusts which have shut down since 2006 – did not violate the takings clause of the U.S. Constitution, according to the 3rd Appellate Department's decision in Held v. State of New York Workers' Compensation Board.After 17 tru...