Delphi Asks For Green Light On Bonus Plan

Law360, New York (September 12, 2007, 12:00 AM EDT) -- On the heels of filing its proposed reorganization plan and disclosure statement, bankrupt Delphi Corp. has asked a judge to allow it to pay its executives up to $37.6 million in bonuses for the latter half of 2007.

In a motion filed Friday in the U.S. Bankruptcy Court for the Southern District of New York, the auto parts maker asks the court to continue what it calls “a short term, at-risk performance-based compensation program” for its executives. The bonuses are incentives for those who met specified...
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