Sears Defends $25M Exec Bonuses From Trustee In Ch. 11

Law360 (December 12, 2018, 9:23 PM EST) -- Sears Holding Corp. on Wednesday asked a New York bankruptcy court to reject a U.S. Trustee’s Office challenge to its proposal to pay $25 million in bonuses to top executives and employees, saying it's established the bonuses are fair and needed.

Saying it has already started seeing executives leave for greener pastures, Sears urged the court to approve the plan, arguing it had established the executives in the key employee retention plan are not insiders and that it had adjusted the plan to allow more oversight of the financial benchmarks that will trigger the payments in the key employee incentive plan....

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