Chemtura Wins Right To Pay Up To $19M In Bonuses

Law360, New York (May 18, 2010, 4:44 PM EDT) -- A judge has given bankrupt specialty chemical company Chemtura Corp. the green light to pay managers as much as $19 million in bonuses for reaching certain earnings and Chapter 11 exit goals.

Judge Robert E. Gerber issued a ruling approving the motion for 2010 bonuses on Tuesday in the U.S. Bankruptcy Court for the Southern District of New York, despite expressing concerns that the incentives may appear unfair to many of the businesses’ lower-tier workers who have also suffered from uncertainties during the company’s bankruptcy proceedings....
To view the full article, register now.