Dana’s Bid To Protect Incentive Plans Draws Retirees’ Ire

Law360, New York (October 11, 2006, 12:00 AM EDT) -- Dana Corp.’s petition for a bankruptcy court to reconsider a ruling that denied proposed incentive packages for the company’s executives is continuing to take fire from all sides, with a committee of nonunion retirees calling the move “a procedurally improper request for reconsideration with no basis in fact or law.”

In an objection filed Tuesday in the U.S. Bankruptcy Court for the Southern District of New York, the official committee of nonunion retirees said it was previously unable to file an objection to Dana’s motion because...
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