The two unnamed retirees represented by attorney Bruce Jorgensen filed this afternoon, Thursday, a motion for a temporary restraining order and preliminary injunction to prevent the enforcement of Gov. Benigno R. Fitial's executive order declaring a state of emergency for the financially troubled NMI Retirement Fund.
Attorney Jorgensen and co-counsels Robert M. Hatch and Stephen C. Woodruff said their motion seeks to prevent Fitial from “illegally seizing the Fund and assuming dictatorial control over it.”
Last June 7, Fitial issued Executive Order 2012-06 that suspends the power of the Fund's board of trustees and administrator and transfers this executive power to Finance Secretary Larrisa Larson.
Fitial then stated that Executive Order 2012-06 shall become effective immediately upon the U.S. District Court Bankruptcy Division's filing of its order dismissing the Fund's Chapter 11 bankruptcy petition.
More details to follow.
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