Smurfit Creditors Vow Not To Pay Execs' Legal Bills

Law360, New York (April 13, 2010, 2:07 PM EDT) -- Creditors have agreed to bankrupt packaging maker Smurfit-Stone Container Corp.’s plan to pay its chief executives millions of dollars through restructuring, but their largesse has limits, and they are staunchly opposed to also paying the legal fees the executives ran up negotiating their compensation packages.

On Monday the official committee of unsecured creditors urged Judge Brendan Linehan Shannon of the U.S. Bankruptcy Court for the District of Delaware to deny Smurfit-Stone’s proposed payment of legal fees and expenses as part of the multimillion-dollar compensation for CEO...
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