By Rick Archer (May 22, 2020, 3:37 PM EDT) -- A New York bankruptcy judge on Friday approved nearly $38 million in bonus payments for Frontier Communications Corp. executives, saying the boosted pay appears to be in line with industry standards and not earmarked for company insiders.
At a telephone hearing, U.S. Bankruptcy Judge Robert Drain approved the proposed bonuses over an objection from the U.S. Trustee's Office after hearing that two creditor groups had dropped their own objections when Frontier agreed to adjust the payment schedule.
Cable provider Frontier filed for Chapter 11 protection in April, saying issues with integrating recent acquisitions, "fierce" competition, changing consumer preferences and the need...
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