Aegis Moves To Change Ex-Workers' Compensation

Law360, New York (September 10, 2007, 12:00 AM EDT) -- Bankrupt subprime lender Aegis Mortgage Corp. moved on Friday to change its plan to compensate hundreds of its terminated employees, saying that many had been given short shrift due to unforeseen circumstances and procedural errors.

When Aegis entered bankruptcy earlier this year, it fired nearly 800 of its over 1,300 employees. Some of these employees received their outstanding wages and commissions, along with one week of severance pay. But some did not, according to the company.

This is because, at the last minute before filing for...
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