Bankrupt NJ Casino's Exec Bonus Plan Adjusted By Judge

Law360, New York (December 18, 2013, 5:12 PM EST) -- A New Jersey bankruptcy judge on Monday ruled the executives of an Atlantic City casino could collect bonuses contingent on the sale price of the property, currently in Chapter 11, but tinkered with the size of the bonuses in response to a trustee’s objection.

U.S. District Judge Gloria M. Burns approved the key employee incentive plan for the executives of RIH Propco NJ LLC, who are in the process of trying to secure a buyer for their ailing Atlantic Club Casino Hotel. Bidding for the property...
To view the full article, register now.