2-18-10: Today Was A Very Good Day For DSRA

Today was a very good day with regard to our on-going, and unrelenting, efforts to obtain "fair and equitable" pension treatment for all of the pension eligible Delphi salaried retirees and active Delphi employees.

We were very pleased with the most recent Michigan Federal District Court Judge's ruling which was issued this morning.

In addition, there were no negatives coming from the status and settlement conference involving "all parties" which was held this afternoon.

Click here for a video of the DSRA's attorney comments after the Feb. 18, 2010 court appearance in Detroit District Court.

 

No further comment is appropriate at this time.

Den Black - Interim Chair, DSRA

2-10-10: Judge Rejects GM, Government Requests for Delay; DSRA Attorneys Prepare for Feb. 18 Conference

Our attorneys continue to prepare for the status and settlement conference to be held in Detroit federal court on February 18.  This past week, the Court entered an order setting February 16 as the date for the Federal defendants to answer our amended complaint.  This is significant because these defendants had also asked for a "stay" of the proceedings well beyond February 16, so as to assist GM in its illicit effort to shift some of our case to the bankruptcy court in New York City.  Our attorneys have strongly opposed those efforts to stay any aspect of our case, and so far the Federal Court in Detroit has rejected the Federal defendants' request.  We also believe that the court continues to work on an additional ruling on our preliminary injunction request.  At this point, the court order in effect is that the PBGC should escrow the difference between our reduced benefits and our full benefits.  While the PBGC has moved to amend or strike that order, the Court has not done so, and may be drafting a more comprehensive order directing the PBGC to respect our rights and preserve our funds in an escrow account.

1-27-10: DSRA is Handed a Preliminary Victory

DSRA is Handed a Preliminary Victory

With Respect to Our Efforts to

Prevent the PBGC From Reducing Your Pension Benefits

       The Federal District Court in Detroit handed the DSRA a preliminary victory on Tuesday, January 26.  We had asked the Court to prevent the PBGC from reducing our pension benefits during the period in which the Court resolves our challenge to the termination of our pension plan.  On Tuesday, the Court issued an extraordinary order telling the PBGC to hold the difference between our full pension payments and the reduced amounts the PBGC will pay us in what is known as an “escrow” account -- namely, a separate interest-bearing account.  The Court insisted that the PBGC do this so that, in the event we win in the end, we will all get full relief.  The Court said that the PBGC could avoid the escrow account requirement only if the PBGC were instead to stipulate on the record that it automatically will make everyone whole if the Court ultimately rules in our favor on the merits.  If the PBGC fails either to establish the escrow account or make the stipulation on the record to the Court, the Court indicated it will then issue an injunction entirely halting any PBGC reductions.

      This is a very promising development.  If the Court believed that our case lacked merit, it would not

Read more ...

1-26-10: BREAKING NEWS - Judge gives PBGC two choices...

Judge gives PBGC two choices on DSRA Injunction Request; Retirees’ Legal Counsel Views Court Order as Positive Development:

DETROIT – Eastern Michigan District Federal Judge Arthur J. Tarnow has ordered the Pension Benefit Guaranty Corporation (PBGC) to choose between two options concerning the Delphi Salaried Retirees Association (DSRA) injunction request to stop pension reductions. 

Your DSRA Attorneys are continuing to review the Judge’s order, but initially viewed the development as positive for the Retirees’ case.

DSRA leaders will communicate additional details as soon as they are available.