US Trustee Moves To Block Latest Tribune Bonus Plan

Law360, New York (June 10, 2010, 7:09 PM EDT) -- The U.S. trustee on Thursday criticized The Tribune Co.'s efforts to pay roughly $21 million in bonuses to its managers and other key employees, saying the bankrupt media giant should not be allowed to give out more bonuses while seeking to confirm a plan that leaves several creditor classes empty-handed.

U.S. Trustee Roberta A. DeAngelis objected to Tribune's $10.6 million transition management incentive program for 21 managers plus a discretionary $1.3 million for 50 other employees, along with a key operators bonus of $9.3 million for...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.