Trustee Objects To London Fog Bonus Plan

Law360, New York (February 22, 2007, 12:00 AM EST) -- The U.S. Trustee in London Fog Group Inc.’s bankruptcy proceedings has objected to the rainwear maker’s plan to pay incentive bonuses to its chief financial officer and retention payments to three accounting professionals.

In papers filed Thursday before the U.S. Bankruptcy Court in Reno, Nev., Trustee Sara L. Kistler said the bonus plan would not be beneficial to the liquidating company’s estate.

“The debtor’s motion is vague and fails to even estimate the value of the remaining assets,” Kistler wrote.

London Fog wants the court to...
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