We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Aegis' Employee Compensation Plans Get Green Light

Law360 (October 17, 2007, 12:00 AM EDT) -- A bankruptcy court has approved two proposals by Aegis Mortgage Corp. to compensate its workers — a compensation scheme for senior employees and a plan to draw on its insurance policies to pay workers' prepetition compensation claims.

Judge Brendan Shannon, of the U.S. Bankruptcy Court for the District of Delaware, ruled on Tuesday that “the legal and factual bases set forth in [Aegis'] motion” establish just cause to allow the bankrupt mortgage lender to implement a performance-based incentive plan for certain employees, including officers.

Shannon also...
To view the full article, register now.
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.