Frontier Wins OK For An Additional $25M In Exec Bonuses
Law360 (July 16, 2020, 5:41 PM EDT) -- A New York bankruptcy judge on Thursday approved another $25 million in bonuses for Frontier Communications Corp. executives two months after approving $38 million in payments for a different group of executives at the cable provider.
U.S. Bankruptcy Judge Robert Drain overrode remaining objections from the U.S. Trustee's Office and a union to the second round of executive bonuses in Frontier's Chapter 11 case, saying the financial benchmarks — adjusted in response to creditor complaints — appear to be genuinely difficult to achieve.
Frontier filed for Chapter 11 protection in April, saying issues with integrating recent acquisitions, "fierce" competition, changing consumer preferences and the...
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