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To: Mouton

Here’s the judge’s reasoning:

http://www.theglobeandmail.com/report-on-business/international-business/us-business/michigan-judge-orders-withdrawal-of-detroit-bankruptcy-petition/article13323992/

The state court judge in Michigan’s capital of Lansing ordered Orr to withdraw the bankruptcy petition because the state law that allowed Snyder to approve the bankruptcy violated the Michigan Constitution. The governor lacks the power to “diminish or impair pension benefits,” according to the ruling by Ingham County Circuit Court Judge Rosemarie Aquilina.


8 posted on 07/19/2013 2:28:32 PM PDT by SeekAndFind
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To: SeekAndFind
The governor lacks the power to “diminish or impair pension benefits,” according to the ruling by Ingham County Circuit Court Judge Rosemarie Aquilina.

Maybe true, but this should be argued in Bankruptcy court. No way can this judge order all debt out of bankruptcy because of one class of creditors. This is why we have bankruptcy court. The retiree can argue the retirement plans are not part of the bankruptcy, in essence, claim the highest level of creditor protection.

56 posted on 07/19/2013 3:06:36 PM PDT by 11th Commandment (http://www.thirty-thousand.org/)
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To: SeekAndFind
The state court judge in Michigan’s capital of Lansing ordered Orr to withdraw the bankruptcy petition because the state law that allowed Snyder to approve the bankruptcy violated the Michigan Constitution. The governor lacks the power to “diminish or impair pension benefits,” according to the ruling by Ingham County Circuit Court Judge Rosemarie Aquilina.

This twit lacks the power to trump federal bankruptcy law, so her ruling should simply be ignored. However, just so she isn't left with the impression that her ruling was anywhere near correct, I'm sure the Michigan Court of Appeals with reverse her in a strongly worded opinion.

122 posted on 07/19/2013 8:00:26 PM PDT by Repeal 16-17 (Let me know when the Shooting starts.)
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