Retired Hertz Execs Attack Proposed $14.6M Ch. 11 Bonuses

Law360 (September 10, 2020, 10:44 PM EDT) -- A group of retired Hertz executives objected Thursday to a Chapter 11 proposal to shell out $14.6 million in bonuses, asserting the car rental giant is attempting to "continue doling out cash" to favored employees while deferred compensation promised to the retirees goes up in smoke.

The retired executive group, or REG, says its members deferred compensation in return for Hertz Global Holdings Inc.'s promises to pay such as retirement benefits and that they have been "seriously and adversely" impacted by the bankruptcy cases.

The group urged a Delaware bankruptcy court to nix the incentive plans proposed last month because they...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Beta
Ask a question!