3 Aug 2006

CNMI Retirement Fund sues governor

1:40 pm on 3 August 2006

The Northern Marianas Retirement fund has sued Governor Benigno Fitial, the Secretary of Finance, Eloy Inos, and the central government for enacting a law to suspend the administration's contributions to the Fund.

The lawsuit asks the court to compel the Department of Finance to pay all the suspended contributions which, it says, amount to nearly 120 million US dollars.

It asks for damages of 91 million dollars plus interest and penalties.

It also asks the court to declare the law under which the payments were suspended to be declared null and void and unconstitutional.

The court has issued summons for the Governor and the Secretary of Finance