Press Release
For Immediate Release
Date:
April 22, 2022
Contact
Michael S. Garrity,
Director of Communications
(603) 931-9375 | michael.s.garrity@doj.nh.gov
Thomas J. Donovan, Director of Charitable Trusts
(603) 271-1288 | Thomas.J.Donovan@doj.nh.gov
(603) 931-9375 | michael.s.garrity@doj.nh.gov
Thomas J. Donovan, Director of Charitable Trusts
(603) 271-1288 | Thomas.J.Donovan@doj.nh.gov
Report Regarding the Governance of LRGHealthcare
Concord, NH – Attorney General John M. Formella announces the issuance of the Attorney General's report regarding the governance of LRGHealthcare, which initiated bankruptcy proceedings in October 2020 following several years of poor financial results. The report concludes that LRGHealthcare's trustees made misjudgments and were too deferential to the recommendations and conclusions of the long-term executives. The report concludes that they did not breach their fiduciary duties. The report also offers direction for the officers and trustees of other large charitable organizations so that they can avoid a similar financial collapse.