Trustee Fights Bonuses For Fieldstone Insiders

Law360, New York (March 4, 2008, 12:00 AM EST) -- The U.S. Department of Justice has appealed an order in Fieldstone Mortgage's Chapter 11 bankruptcy proceedings giving the firm permission to pay $431,000 in retention bonuses to seven company executives.

U.S. Trustee W. Clarkson McDow Jr. has asked the U.S. Bankruptcy Court for the District of Maryland to grant a stay pending his appeal of the order with the U.S. District Court in Baltimore. A hearing on that motion is scheduled for Friday.

He argues in his motion, filed Thursday, that the retention bonuses approved by...
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.