Judge inclined to dismiss Fund’s bankruptcy case
U.S. District Court for the NMI Bankruptcy Division designated judge Robert Faris has issued a tentative ruling saying he is inclined to dismiss the NMI Retirement Fund’s Chapter 11 bankruptcy case.
U.S. District Court for the NMI Bankruptcy Division designated judge Robert Faris has issued a tentative ruling saying he is inclined to dismiss the NMI Retirement Fund’s Chapter 11 bankruptcy case.
Faris said the ground is that the Fund is a “governmental unit” which is not eligible for relief under Chapter 11 of the Bankruptcy Code.
The judge noted that his tentative ruling is subject to further reflection and oral arguments on Friday.
