Citibank Tries To Block Bonuses For Howrey Employees

Law360, New York (July 12, 2011, 6:17 PM EDT) -- Citibank NA on Monday objected to defunct Howrey LLP's bid to have a California bankruptcy court back an employee retention plan that would pay bonuses to nearly half of its remaining employees, calling the move premature and one that could be harmful to creditors.

A secured creditor in Howrey's Chapter 11 proceedings, Citibank asked the bankruptcy judge to deny the firm's motion for approval of a nearly $500,000 employee incentive and retention plan that would give bonuses of up to 50 percent of an employee's annual...
To view the full article, register now.

Documents

Related

Sections

Case Information

Case Title

Howrey LLP


Case Number

3:11-bk-31376

Court

California Northern

Nature of Suit

Date Filed

April 11, 2011

Law Firms

Companies

Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.