Dura's Plan For Bonuses Passes Muster With Court

Law360, New York (February 27, 2008, 12:00 AM EST) -- A judge has approved bankrupt Dura Automotive Systems Inc.'s $2.6 million key management incentive plan, saying the bonuses are in the best interest of the struggling company.

Judge Kevin J. Carey of the U.S. Bankruptcy Court for the District of Delaware said that if the company had not emerged from Chapter 11 protection by July 31, no more payments could be made without his consent.

Judge Carey was persuaded by a reply that Dura filed earlier this month in response to an objection from the International...
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