Dana Urges Judge To Reconsider Incentive Plans

Law360, New York (September 18, 2006, 12:00 AM EDT) -- Auto parts maker Dana Corporation has asked a bankruptcy court to reconsider a ruling that denied proposed incentive packages for the company’s executives, questioning whether the compensation plans actually violate the Bankruptcy Code.

The motion, filed in the U.S. Bankruptcy Court for the Southern District of New York, asks Judge Burton R. Lifland to reconsider the plan, which would cost the company almost $10 million in bonuses designed to retain key executives through the restructuring process.

The company also said in the court filing that it...
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