Trustee Slams Dana Request For Extension

Law360, New York (October 31, 2006, 12:00 AM EST) -- The U.S. Trustee overseeing the Chapter 11 proceedings of Dana Corp. has once again decried the bankrupt auto maker’s executive incentive plan, this time objecting to a bankruptcy court judge’s decision to push back a hearing on the company’s reconsideration motion.

In documents filed with the U.S. Bankruptcy Court for the Southern District of New York, U.S. Trustee Diana G. Adams has objected to a motion by the company to extend the filing deadline for papers relating to the incentive plan.

Judge Burton Lifland struck down...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.