[gunsequalfreedom]

From the article is sounds like they bumped up their pensions just before filing bankruptcy.

It sounds like the judge undid that.

It is normal in a bankruptcy for the court to go back and look at the last nine months activity prior to filing for bankruptcy and reverse anything that significantly compromised creditors position once bankruptcy was filed.

The union might have lost this ruling but it does not appear to be a gutting of pensions as the headline implies.

Maybe a FReeper on her with bankruptcy expertise can verify my take.

[Cold Heat]

Franklin argued that an exit plan that provides full payment of the city’s “massive” pension liability, while paying Franklin a penny on the dollar, cannot be confirmed under the federal bankruptcy code requiring fair treatment of creditors.

The way I read it, is that the ruling is only that the pension can be adjusted...and not what the adjustment will be..

Not a atty, but I once stayed in a Holiday Inn Express...