Allied Exec Bonus Plan Would Pay $3M If Sale Tops $200M

Law360, Wilmington (July 2, 2013, 4:07 PM EDT) -- Bankrupt Allied Systems Holdings Inc. sought approval Monday for a bonus plan that would see top executives share as much as $2.85 million if the car hauler's planned Chapter 11 sale brings in more than $200 million.

Atlanta-based Allied has been stuck in Chapter 11 for more than a year and bonus plan would both reward the seven participating executives for their extra work during the case and serve as a carrot to help realize the best possible price for the company at its planned Section...
To view the full article, register now.