Judge Pares Down Dura Incentive Payments

Law360, New York (June 4, 2007, 12:00 AM EDT) -- The judge in charge of Dura Automotive Systems Inc.'s Chapter 11 proceedings has ruled on Dura's revised key management incentive plan, shooting down Dura's bid to make payments to senior management personnel contingent on delivering a business plan and filing a restructuring plan.

U.S. Bankruptcy Judge Kevin J. Carey signed an order on June 1 approving some parts of Dura's motion seeking approval of the revised KMIP and denying others without prejudice, which led the bankrupt auto parts maker to file a motion that same day...
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