Borden's Ch. 11 Bonuses OK'd As Judge Scolds Stakeholders

Law360 (June 8, 2020, 10:38 PM EDT) -- A Delaware judge on Monday gave his nod for Borden Dairy Co. to pay up to roughly $2 million in potential incentive bonuses to certain executives, after expressing displeasure with stakeholders who were unable to hash out performance target adjustments as he had previously requested.

During a phone hearing, U.S. Bankruptcy Judge Christopher S. Sontchi grew impatient that a dispute remained over the performance benchmarks that would trigger incentive bonus pay despite a lengthy hearing late last month in which he asked Borden to adjust its targets.

"This to me, frankly, is [a problem] manufactured by both sides," the judge told...

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