Musicland Settles With Two Former Executives

Law360, New York (April 13, 2007, 12:00 AM EDT) -- Bankrupt Musicland Holding Corp. has settled compensation disputes with two former employees for far less than the executives had requested.

Court documents filed Thursday in the U.S. Bankruptcy Court for the Southern District of New York said that Craig Wassenaar, the former chief financial officer, had requested $455,625, and Vladimir Bogdanov, the former chief information officer, asked for $262,114.

The company and the informal committee of secured trade vendors negotiated with the men. The settlement agreement would allow Wassenaar to receive $56,000 and Bogdanov to receive...
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