Polish and Slavic Case CU Continued

BROOKLYN, New York – A federal judge which is hearing the ongoing case between the $1 billion Polish and Slavic Credit Union, headquartered in Brooklyn, and an organization critical of its operations has continued the case until May 23, at which point he will hear arguments only in his chambers, according to both sides of the dispute. “The judge heard the arguments and determined that the arguments were complicated and heated enough that he needed time to study them and that he should hear them in his chambers before hearing them in open court,” explained Myles Edwards, the general counsel for the credit union. Edwards said the credit union considered the session a victory because the temporary restraining order which prevents the critical organization from publishing certain confidential documents remained in place. Garth Mollander, the attorney for the Forum Organized to Protect Poles, the group which published the documents, said that the group also considered the day a victory because it signaled the court was going to look closely and carefully at some of the allegations FOPP had about how the credit union was being run and which provided the context for the document dispute. The judge instructed his legal secretary to study the issues in the case in preparation for the May 23 hearing. FOPP has alleged that the documents in question include reports about mortgages obtained under favorable and illegal terms by at least one Polish and Slavic board member as well as a report from an auditing firm which suggested one board member should resign from the board.