Pennichuck
Pennichuck Corp. has named Roland E. Olivier, a longtime corporate attorney, to a new position of general counsel to guide the company in its eminent domain fight with the city of Nashua.
The company said Monday that Olivier also will direct Southwood Corp., a land holding company.
Olivier also said that he looked forward to working again with Pennichuck chief executive Duane Montopoli, who also once worked at Hitchiner.
At the end of July, the state Public Utilities Commission ruled that Nashua could acquire Pennichuck's waterworks for $203 million plus a $40 million mitigation reserve. While the city considers whether it wants the utility at that price, Pennichuck plans to appeal the ruling.
Thus far, Pennichuck has relied on outside counsel. That would still continue, but Olivier said he would provide some in-house guidance as the company makes decisions on the matter down the road.
Olivier said that most activity at Southwood has been put on hold while legal battle with Pennichuck continues but that the subsidiary "would continue to act as an excellent steward for the watershed for the towns that we serve."
Condemnations of utilities need a full time participant outside of the normal corporate governance structure in order to properly defend the business from an aggressive eminent domain action. Forced acquisitions require a full time special assistant to guide and protect the corporation. The guidance of the defense takes a full time employee to guide the work with outside counsel. The issues run the gamut of trial preparation, leadership and protection of the institution. Pennichuck is following the required route in defense of the its perpetuation.One has to wonder why this case was not removed to the federal court.
