We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Tower Tries To Give Founder The Heave-Ho

Law360 (November 3, 2006, 12:00 AM EST) -- With Tower Records currently in liquidation mode, lawyers for the beleaguered music chain have asked a bankruptcy judge to cut ties with founder Russell Solomon, the empire’s head for more than four decades.

On Thursday, Tower Records’ lawyers filed papers in the U.S. Bankruptcy Court for the District of Delaware, seeking to end Solomon’s employment as chairman emeritus after nearly 40 years on the job.

Solomon reaped $400,000 annually in cash and $232,000 in notes in his position, according to court documents.

In the filing, Towers’...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.