Global Aviation Holdings: The KERP Is Back

Law360, New York (August 6, 2012, 1:11 PM EDT) -- In a recent decision[1] involving Global Aviation Holdings Inc. and its affiliated debtors (collectively, the “debtors”), the United States Bankruptcy Court for the Eastern District of New York granted the debtors' motion for approval of a key employee retention plan (the “KERP motion”) pursuant to Sections 363(b) and 503(c)(3) of Title 11 of the United States Code over the objections of both the United States Trustee for Region 2 (the “UST”) and the official committee of unsecured creditors (the “committee”).

In the objections, the committee and...
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