Bankrupt Orchard Supply Gets OK For $3M Exec Bonus Plan
By Matt Chiappardi
Law360, Wilmington (August 6, 2013, 6:51 PM EDT) -- A Delaware bankruptcy judge gave his OK on Tuesday to Orchard Supply Hardware Stores Corp.'s up-to $3 million executive bonus plan over the objections of the U.S. Trustee's Office, which argued the key goal to land a potential buyer was already met when the retail chain entered bankruptcy.
U.S. Bankruptcy Judge Christopher S. Sontchi said he too had some reservations on first blush when looking at the home-and-garden chain's bonus plan request, since the $200 million sale threshold was reached the day Orchard Supply filed for...