Trustee Objects To Buffet Holdings' Incentive Plans

Law360, New York (May 9, 2008, 12:00 AM EDT) -- The U.S. trustee overseeing Buffet Holdings Inc.'s Chapter 11 proceedings has asked the court to deny the nation's largest steak-buffet restaurant chain's motion for approval of employee incentive plans for 2008 and 2009.

U.S. Trustee Roberta A. DeAngelis filed her objection to the company's April 23 motion for an order authorizing payments under the plans with the Delaware bankruptcy court on Thursday.

Buffet Holdings' motion asked the court to sign off on the 2008 and 2009 plans and allow it to pay a performance bonus to...
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