Trustee Blasts Dana Bid To Protect Incentive Plans

Law360, New York (October 9, 2006, 12:00 AM EDT) -- Three weeks after Dana Corp. asked a bankruptcy court to reconsider a ruling that denied proposed incentive packages for the company’s executives, the U.S. Trustee overseeing the case is lashing out at the auto parts maker’s motion, arguing the move is “procedurally and substantively defective.”

Last month, Dana asked Judge Burton R. Lifland of the U.S. Bankruptcy Court for the Southern District of New York to reconsider the plan, which would cost the company almost $10 million in bonuses designed to retain key executives through the...
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