Dura's Management Incentive Plan Draws Objections

Law360, New York (May 24, 2007, 12:00 AM EDT) -- The U.S. Trustee overseeing Dura Automotive Systems Inc.’s Chapter 11 case has taken issue with the bankrupt auto parts maker’s motion for an order approving its revised key management incentive plan, saying the plan would reward certain employees for failing to meet their goals.

U.S. Trustee Kelly Beaudin Stapleton filed her limited objection Wednesday, claiming the key management incentive plan runs afoul of the law and asking the judge in charge of the case to deny Dura’s motion for an approval order.

The trustee found that...
To view the full article, register now.

Law360 UK

UK Financial Services

Read Our Latest UK Legal News & Analysis

Financial Services Law360 UK and Insurance Law360 UK provide breaking news and in-depth analysis on U.K. and European Union regulation, enforcement, legislation, and litigation involving banks, investment firms, insurers, and more.