Trustee Objects To Bonus Plan In Blockbuster Ch. 11

Law360, New York (July 5, 2011, 10:30 PM EDT) -- The U.S. trustee overseeing defunct video retailer Blockbuster Inc.'s bankruptcy proceedings in New York on Friday took issue with the company's bonus plan for an employee in charge of approving creditor payouts.

Blockbuster filed for Chapter 11 bankruptcy protection last September, listing $1.1 billion in assets and roughly $1.5 billion in liabilities.

In June, the company proposed to pay its sole remaining employee, Senior Vice President of Tax Bruce Lewis — who is in charge of reviewing, administering and approving payment of claims — a bonus...
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