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Retiree seeks $378,010 award
A retiree asked the U.S. District Court for the NMI’s Bankruptcy Division yesterday to award him $378, 010 in retirement share and administrative cost.
John A. Angello pointed out that bankruptcy judge Robert J. Faris had stated in his memorandum to dismiss the NMI Retirement Fund’s Chapter 11 bankruptcy petition that “any other party wishing to assert an administrative expense must file an appropriate application or motion no later than June 29, 2012.”
Therefore, Angello said, in the spirit of “man amko justice” he is moving Faris to order the Fund to pay him “$27,000 x 14 (normal years of remaining life expectancy), plus an administrative cost of $10 for this motion)” for his fair share of the “abusively-administered” Fund pie.
The retiree said he should get the payment before all the “grinning attorneys” gorge themselves with wanton and excessive fees for filing needless claims and counter claims and useless Chapter 11 bankruptcy petition and subsequent motions to keep the “litigious meter running.”
Angello noted that Chapter 11 forms consisting of four pages are readily available for a non-attorney type to file with a $1,046 fee.
Angello said while it being a no-brainer that the Fund would be fighting an uphill battle to prove that it is a “person” and not a government unit in order to have standing to lawfully file a Chapter 11, the attorneys representing the Fund should be sanctioned and not paid for not advising the Fund “of this no-win situation.”
