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Judge Grants Protection To NWA Execs Contracts

Law360 (November 22, 2006, 12:00 AM EST) -- Northwest Airlines Corp. was granted the authority Tuesday to honor its executives’ contracts once it emerges from Chapter 11. A judge granted the motion in order to prevent further attrition in the company’s upper ranks.

The contracts of 41 Northwest executives would have been subject to changes from new owners or board members once the company exited bankruptcy protection.

Northwest’s debtors entered the motion, which sought to protect 36 pre-petition contracts and five post-petition contracts of its officer employees, on October 20. The employees included CEO...
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