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Indiana State Police Pension Trust V. Chrysler
''Indiana State Police Pension Trust v. Chrysler LLC'' was a lawsuit brought in United States federal court June 2009 by several pension funds against Chrysler LLC and the United States Department of the Treasury, to block the planned sale of Chrysler LLC assets to a "New Chrysler" entity in the Chrysler bankruptcy. The case arose from the high-profile bankruptcy of Chrysler, in which the U.S. Treasury orchestrated a sale under Section 363 of the Bankruptcy Code to avoid the debtors' having to fully compensate a group of first lien priority creditors, which included roughly 100,000 retired teachers and police officers from Indiana. The United Auto Workers Union (UAW), which was closely allied with the Obama Administration, was a junior, unsecured creditor who stood to gain from the plan of sale. The plaintiff (pensioners) asked for the U.S. Treasury's redistribution of value in the bankruptcy from senior, secured creditors with priority liens to junior, unsecured creditors to be ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pension Fund
A pension fund, also known as a superannuation fund in some countries, is any plan, fund, or scheme which provides retirement income. Pension funds typically have large amounts of money to invest and are the major investors in listed and private companies. They are especially important to the stock market where large institutional investors dominate. The largest 300 pension funds collectively hold about USD$6 trillion in assets. In 2012, PricewaterhouseCoopers estimated that pension funds worldwide hold over $33.9 trillion in assets (and were expected to grow to more than $56 trillion by 2020), the largest for any category of institutional investor ahead of mutual funds, insurance companies, currency reserves, sovereign wealth funds, hedge funds, or private equity. The Federal Old-age and Survivors Insurance Trust Fund, which oversees $2.66 trillion in assets, is the world's largest public pension fund. Classifications Open vs. closed pension fund Open pension funds suppor ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Chapter 11
Chapter 11 of the United States Bankruptcy Code (Title 11 of the United States Code) permits reorganization under the bankruptcy laws of the United States. Such reorganization, known as Chapter 11 bankruptcy, is available to every business, whether organized as a corporation, partnership or sole proprietorship, and to individuals, although it is most prominently used by corporate entities. In contrast, Chapter 7 governs the process of a liquidation bankruptcy, though liquidation may also occur under Chapter 11; while Chapter 13 provides a reorganization process for the majority of private individuals. Chapter 11 overview When a business is unable to service its debt or pay its creditors, the business or its creditors can file with a federal bankruptcy court for protection under either Chapter 7 or Chapter 11. In Chapter 7, the business ceases operations, a trustee sells all of its assets, and then distributes the proceeds to its creditors. Any residual amount is returned to the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Human Events
''Human Events'' is an American conservative political news and analysis website. Founded in 1944 as a print newspaper, ''Human Events'' became a digital-only publication in 2013. ''Human Events'' takes its name from the first sentence of the United States Declaration of Independence: "When in the course of human events...". The magazine was published in Washington, D.C., most recently by Eagle Publishing, the owner of Regnery Publishing, a subsidiary of Phillips Publishing. Thomas S. Winter was editor-in-chief and Cathy Taylor was editorial director of the print edition. As of 2021, the website is co-published by Jeff Webb and Will Chamberlain. History ''Human Events'' was founded in 1944 by Felix Morley, William Henry Chamberlin, Frank Hanighen, and Henry Regnery. Morley was previously editor of ''The Washington Post'' from 1933 to 1940. Regnery formerly worked for the Resettlement Administration, a New Deal-era federal agency. In its early years, ''Human Events'' was "a small- ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Legal Burden Of Proof
In a legal dispute, one party has the burden of proof to show that they are correct, while the other party had no such burden and is presumed to be correct. The burden of proof requires a party to produce evidence to establish the truth of facts needed to satisfy all the required legal elements of the dispute. The burden of proof is usually on the person who brings a claim in a dispute. It is often associated with the Latin maxim ''semper necessitas probandi incumbit ei qui agit'', a translation of which is: "the necessity of proof always lies with the person who lays charges." In civil suits, for example, the plaintiff bears the burden of proof that the defendant's action or inaction caused injury to the plaintiff, and the defendant bears the burden of proving an affirmative defense. The burden of proof is on the prosecutor for criminal cases, and the defendant is presumed innocent. If the claimant fails to discharge the burden of proof to prove their case, the claim will be ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Merit (legal)
In law, merits are the inherent rights and wrongs of a legal case, absent of any emotional or technical bias. The evidence is applied solely to cases decided on its merits, and any procedural matters are discounted. The term comes from Old French Old French (, , ; Modern French: ) was the language spoken in most of the northern half of France from approximately the 8th to the 14th centuries. Rather than a unified language, Old French was a linkage of Romance dialects, mutually intelligib ... ''merite'', meaning "reward" or "moral worth". External links Definition from Merriam-Webster.com Legal terminology {{law-term-stub ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Per Curiam
In law, a ''per curiam'' decision (or opinion) is a ruling issued by an appellate court of multiple judges in which the decision rendered is made by the court (or at least, a majority of the court) acting collectively (and typically, though not necessarily, unanimously). In contrast to regular opinions, a ''per curiam'' does not list the individual judge responsible for authoring the decision, but minority concurring and dissenting opinions are signed. It is not the only type of decision that can reflect the opinion of the court. Other types of decisions can also reflect the opinion of the entire court, such as unanimous decisions in which the opinion of the court is expressed, with an author listed. The term ''per curiam'' is Latin for "by the court". United States Federal The decisions of the U.S. Supreme Court are generally not ''per curiam'', with exceptions. Their decisions more commonly take the form of one or more opinions signed by individual justices which are then ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ruth Bader Ginsburg
Joan Ruth Bader Ginsburg ( ; ; March 15, 1933September 18, 2020) was an American lawyer and jurist who served as an associate justice of the Supreme Court of the United States from 1993 until her death in 2020. She was nominated by President Bill Clinton to replace retiring justice Byron White, and at the time was generally viewed as a moderate consensus-builder. She eventually became part of the liberal wing of the Court as the Court shifted to the right over time. Ginsburg was the first Jewish woman and the second woman to serve on the Court, after Sandra Day O'Connor. During her tenure, Ginsburg wrote notable majority opinions, including ''United States v. Virginia''(1996), '' Olmstead v. L.C.''(1999), '' Friends of the Earth, Inc. v. Laidlaw Environmental Services, Inc.''(2000), and '' City of Sherrill v. Oneida Indian Nation of New York''(2005). Ginsburg was born and grew up in Brooklyn, New York. Her older sister died when she was a baby, and her mother died shortly bef ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Barack Obama
Barack Hussein Obama II ( ; born August 4, 1961) is an American politician who served as the 44th president of the United States from 2009 to 2017. A member of the Democratic Party, Obama was the first African-American president of the United States. He previously served as a U.S. senator from Illinois from 2005 to 2008 and as an Illinois state senator from 1997 to 2004, and previously worked as a civil rights lawyer before entering politics. Obama was born in Honolulu, Hawaii. After graduating from Columbia University in 1983, he worked as a community organizer in Chicago. In 1988, he enrolled in Harvard Law School, where he was the first black president of the '' Harvard Law Review''. After graduating, he became a civil rights attorney and an academic, teaching constitutional law at the University of Chicago Law School from 1992 to 2004. Turning to elective politics, he represented the 13th district in the Illinois Senate from 1997 until 2004, when he ran for the U ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Indiana State Police
The Indiana State Police is the statewide law enforcement agency for the U.S. state of Indiana. Indiana was the 12th state to offer protection to its citizens with a state police force. Its headquarters are in the Indiana Government Center North in Indianapolis. History On July 15, 1921, the Indiana legislature, with approval from the governor, to appoint "all necessary deputies in addition to the present officers of the law" to enforce a newly enacted vehicle registration law. The secretary of state appointed a 16-man ''Indiana Motor Vehicle Police,'' becoming the first law enforcement agency in the state to have statewide jurisdiction to enforce traffic laws, although they had only "limited" authority and were only authorized to enforce the "rules of the road" and motor vehicle laws. On March 10, 1927, the Indiana legislature created a ''Bureau of Criminal Identification and Investigation'', also under the secretary of state, for the purpose of installing and maintaining "lo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Richard Mourdock
Richard Earl Mourdock (born October 8, 1951) is an American politician who served as treasurer of the state of Indiana from 2007 to 2014. Running with the support of the Tea Party movement, he defeated six-term incumbent U.S. Senator Richard Lugar in the May 2012 Republican primary election for U.S. Senate. He lost the November 6, 2012 general election for Lugar's seat to Democratic congressman Joe Donnelly. Early life, education, and business career Mourdock was born in Wauseon, Ohio, the son of Dolores Elaine (Bobel) and David Lee Mourdock. He grew up in Bucyrus, Ohio. His father worked as an Ohio State Highway Patrol trooper. Mourdock graduated from Wynford High School in Bucyrus in 1969, earned a Bachelor of Science in natural systems from Defiance College in 1973 and a Master of Arts in geology from Ball State University in 1975. After completing his education, Mourdock took a position as a field geologist with AMAX Coal Company and was working as Surface Mine Geology P ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Indiana State Treasurer
The Indiana Treasurer of State is a constitutional and elected office in the executive branch of the government of Indiana. The treasurer is responsible for managing the finances of the U.S. state of Indiana. The position was filled by appointment from 1816 until the adoption of the new Constitution of Indiana in 1851, which made the position filled by election. As of 2018, there have been fifty-five treasurers. The incumbent is Republican Kelly Mitchell who has served in the position since November 18, 2014. Term limits and qualification The Indiana State Treasurer is a constitutional office first established in the 1816 Constitution of Indiana, and was made largely to mirror the position of the treasurer during Indiana's territorial period. Between 1816 and until 1851, the treasurer was nominated by the governor and confirmed by the state senate. With adoption of the current constitution in 1851 the treasurer's office was filled by a public statewide election every four years.I ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Secured Creditor
A secured creditor is a creditor with the benefit of a security interest over some or all of the assets of the debtor. In the event of the bankruptcy of the debtor, the secured creditor can enforce security against the assets of the debtor and avoid competing for a distribution on liquidation with the unsecured creditors. In most legal systems, secured creditors also have the option of releasing their security and proving in the liquidation, although, in practice, they would rarely do so. Any creditor with a lien on all or a portion of an asset, such as a mortgage on real estate or a bank loan, is said to be a secured creditor. See also * Preferential creditor A preferential creditor (in some jurisdictions called a preferred creditor) is a creditor receiving a preferential right to payment upon the debtor's bankruptcy under applicable insolvency laws. In most legal systems, some creditors are given p ... References {{finance-stub Credit Bankruptcy Insolvency ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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