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Lawsuits have already been filed in federal court to block Kevyin Orr’s bankruptcy filing in federal court, on the grounds that it violates the sanctity of these public pension contracts. With Michigan State Judge Rose Marie Aqualina, ruling last Friday that such an action was unconstitutional and ordering Governor Snyder to withdraw the petition for Bankruptcy. As a result Snyder has appealed the ruling to a federal court in an attempt to circumvent the constitution of the state of Michigan. And has even threatened to hold Judge Aqualina in contempt.
Meanwhile as Kevyin Orr maneuvers to pay pensioners merely pennies on the dollar * he has worked out a separate deal with the city’s biggest creditors; Bank of America, Deutsche Bank and others: Promising to pay them 75 to 80 cents on the dollar for interest-rate swaps and other derivative-deals which Detroit had been lured into purchasing in a desperate attempt to raise revenue over recent years.
http://rense.com/general96/endof.html
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