RG Steel Exec Bonuses Linked To Sale As Going Concern

Law360, Wilmington (July 18, 2012, 9:50 PM EDT) -- Bankrupt RG Steel LLC won Delaware court approval Wednesday for an amended management incentive plan that will reward executives based on the revenue realized from the sale of the company's assets, but only those that are sold as going concerns.

U.S. Bankruptcy Judge Kevin J. Carey signed off on the amended incentive plan, which the debtors submitted Tuesday after both the U.S. Trustee and the official committee of unsecured creditors objected to the plan as originally proposed June 26.

Carey said that while the plan may...
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