Puerto Rico seeks court's help to save public pension system
Business Law
Puerto Rico's governor says he'll ask a court to restructure the debts of the U.S. territory's public pension system, which is projected to run out of money this year.
Gov. Ricardo Rossello says the government has been unable to reach a deal with creditors to whom it owes some $3 billion.
Rossello said late Sunday that retired workers will still receive their pensions. He says the government will dip into its general fund once the pension system itself runs out of money. The pension system is underfunded by some $50 billion.
The previous administration already had trimmed benefits and a federal control board overseeing the island's finances is seeking more cuts. It says the system will switch to pay-as-you-go funding.
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Grounds for Divorce in Ohio - Sylkatis Law, LLC
A divorce in Ohio is filed when there is typically “fault” by one of the parties and party not at “fault” seeks to end the marriage. A court in Ohio may grant a divorce for the following reasons:
• Willful absence of the adverse party for one year
• Adultery
• Extreme cruelty
• Fraudulent contract
• Any gross neglect of duty
• Habitual drunkenness
• Imprisonment in a correctional institution at the time of filing the complaint
• Procurement of a divorce outside this state by the other party
Additionally, there are two “no-fault” basis for which a court may grant a divorce:
• When the parties have, without interruption for one year, lived separate and apart without cohabitation
• Incompatibility, unless denied by either party
However, whether or not the the court grants the divorce for “fault” or not, in Ohio the party not at “fault” will not get a bigger slice of the marital property.