March 24, 2015
by Addison Morris
The US Supreme Court their ruled Tuesday in Omnicare, Inc. v. Laborers Dist. Council Constr. Industry Pension Fund that a statement of opinion does not qualify as an "untrue statement" even if the opinion ultimately turns out to be incorrect. The federal government filed a claim against Omnicare, ...[read more]
January 29, 2015
by Alison Sacriponte
Chilean lawmakers on Wednesday gave final approval to a bill that recognizes civil unions between same-sex couples. The legislation will now go to President Michelle Bachelet next, who is expected to sign it. The bill's passage will give same-sex couples many of the rights granted to married ...[read more]
November 22, 2014
by Elizabeth LaForgia
An Illinois judge on Friday ruled a law intended to fix the pension crisis in the state violates the Illinois constitution. Sangamon Country Circuit Judge John Belz ruled in favor of state employees and retirees who sued to block the law. Last December state lawmakers passed the bill, which ...[read more]
November 8, 2014
by Julie Deisher-Edwards
The US Bankruptcy Court for the Eastern District of Michigan approved a plan on Friday to resolve Detroit's seven billion dollars of debt and return the city to solvency. The plan includes settlements regarding post-employment benefits claims, tax obligations, insurance, and "the Grand Bargain" ...[read more]
February 10, 2014
by G. Redd
Bankruptcy is a process through which a person who is unable to pay his or her debts is granted relief from the courts by undergoing a supervised step-by-step repayment plan; many debts are partially paid as fairly as possible with the assets that the debtor has. Many small US cities are ...[read more]
February 6, 2014
by Matthew Pomy
Michigan Governor Rick Snyder unveiled a new state budget on Wednesday that would allocate state funds to be used to cover Detroit workers' pensions, currently the subject of controversy in the city's bankruptcy proceeding. The plan sets aside $17.5 million annually for 20 years from funds the ...[read more]
February 3, 2014
by Cynthia Miley
Detroit on Friday filed a lawsuit in the US Bankruptcy Court for the Eastern District of Michigan seeking to invalidate the $1.44 billion of debt the city sold to finance by establishing "sham" service corporations to facilitate the debt sales, and claiming and that all contracts or obligations ...[read more]
January 30, 2014
by Arjun Mishra
02/05/2014: Michigan governor included Detroit's pension bailout in budget. 01/16/2014: Detroit 165 million dollar bankruptcy settlement rejected. 12/18/2013: Federal judge ruled Detroit bankruptcy deal too generous towards banks. 12/03/2013: Federal court ruled Detroit eligible for ...[read more]
January 15, 2014
by Benjamin Minegar
The US Supreme Court ruled Wednesday in Ray Haluch Gravel Co. v. Central Pension Fund that, whether a claim for attorney's fees is based upon a statute, a private contract, or both, the pendency of a ruling on an award for fees and costs does not prevent a merits judgment from becoming "final" for ...[read more]
December 5, 2013
by Amy Mathieu
The Illinois General Assembly passed a bill on Tuesday that would reform the state's pension plan to lower future benefits for current state employees. The legislature amended the pension plan in an effort to cut spending and lower the state's debt, which currently includes about $100 billion in ...[read more]

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