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Borders Wins OK To Pay Managers Incentive Bonuses

Law360 (April 22, 2011, 2:55 PM EDT) -- Bankrupt Borders Group Inc. won approval in New York on Friday to pay bonuses to executives and other key employees in an effort to stem attrition, having resolved a lingering objection to the plan from the U.S. trustee.

U.S. Bankruptcy Judge Martin Glenn said he would sign off on the bonuses during a brief hearing Friday, which came more than a week after lengthy proceedings on April 14 when the trustee sought to cross-examine company witnesses about the proposal.

Borders filed the motion on March 25,...
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