- Two and a half years after Rocky Simpson’s $1.9 million judgment, $1.8 million is still owed.
- A Crown corporation in the Northwest Territories has applied to sell more properties owned by M.L.A. Rocky Simpson to collect on a sizable debt.
The Northwest Territories Business Development and Investment Corporation won a $1.9 million judgment against the Hay River North M.L.A. and his company, Concept Energy, two and a half years ago. Simpson received the judgment after failing to repay a $2 million loan made by the BDIC to him and his company in 2011.
Simpson personally guaranteed the loan and put up real estate and equipment as collateral.
The government will apply to sell five more Hay River properties owned by Simpson early in the new year to recoup some of its money. According to a summary in the court file, Simpson owed BDIC $1,790,872 plus legal fees as of Dec. 6.
Pay has been applied to the debt after a total of $4,285.56 in garnishment from Simpson’s M.L.A.. As a result, Simpson’s take-home pay is only $1,507.66 per week, even though his gross pay is $4,950 every two weeks after deductions and a garnishee of $1,037.51.
Last year, the sale of properties and equipment generated just under a million dollars, but three-quarters of that amount went toward federal taxes owed by Concept and Simpson.
The debt was not widely known until Simpson won the Hay River North seat in the 2019 election by 28 votes over incumbent Wally Schumann. Simpson and his company contributed to previous elections, but he received no contributions and spent no money on his 2019 campaign, according to Elections N.W.T.
Shortly after News North revealed his election and the debt, Simpson told the news that he will not seek forgiveness and that he is confident it can be settled “hopefully to everyone’s satisfaction.”
News emailed Simpson and left a message for him at his constituency office but received no response.
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