Judge OKs Delta Financial's Employee Incentive Plan

Law360, New York (May 6, 2008, 12:00 AM EDT) -- The judge in Delta Financial Corp.'s Chapter 11 proceedings has approved the company's motion to institute an incentive plan for its remaining employees, as the company prepares to liquidate.

Judge Christopher S. Sontchi of the U.S. Bankruptcy Court for the District of Delaware approved the motion on Friday, stating that the plan was “in the best interests of the debtors, their estates and their creditors.”

The incentive plan creates new responsibilities for several employees that they did not have before the company filed for bankruptcy and...
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