Dana Gets Extension For Incentive Plan Proposal

Law360, New York (October 25, 2006, 12:00 AM EDT) -- Bankrupt auto parts maker Dana Corp. will have a little more time to put together incentive plans for its executives, after a bankruptcy court pushed the hearing on the bonuses back to Nov. 8.

Judge Burton Lifland of the U.S. Bankruptcy Court for the Southern District of New York extended the deadline, which gives Dana extra time to complete the legal work on the plan to offer bonuses to executives in order to entice them to stay on with the company.

Lifland already struck down Dana’s...
To view the full article, register now.