Ch. 11 Trustee Questions $2.1M Jackpot For Casino Execs

Law360, New York (December 9, 2013, 9:10 PM EST) -- A federal bankruptcy trustee on Friday asked a New Jersey judge not to approve up to $2.1 million in bonuses for the executives of an Atlantic City casino as they try to secure a buyer while working through the casino’s Chapter 11 restructuring.

Roberta A. DeAngelis filed a document Friday asking U.S. District Judge Gloria M. Burns to deny bonuses to executives from RIH Propco NJ LLC, who stand to reap as much as $2.1 million depending on the price their ailing Atlantic Club Casino Hotel...
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.