Trustee Slams Furniture Brands' Employee Incentive Plan

Law360, New York (October 9, 2013, 6:03 PM EDT) -- A U.S. trustee in Delaware bankruptcy court Wednesday objected to a Furniture Brands International Inc. employee incentive and retention plan, saying the company hasn't proved payments made under the plan meet Bankruptcy Code regulations.

U.S. Trustee Roberta A. DeAngelis asked the court to reject Furniture Brands’ employee incentive and retention plans, saying the company hadn't proved the incentive plan would provide actual incentives, that the retention plan would not affect insider employees or that either plan was even necessary.

“The proposed bonus payments do not appear...
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