Riverstone Judge Grants Executive Bonus Program

Law360, New York (April 6, 2006, 12:00 AM EDT) -- A U.S. bankruptcy court has approved a $1.4-million bonus plan for Riverstone Network Inc.’s top executives, while still allowing for other parties to request the return of the contested bonus payments.

U.S. Bankruptcy Judge Christopher S. Sontchi gave the green light earlier this week for the ethernet infrastructure provider to make payments of up to a total of $1.4 million to 15 key executives.

However, the judge also cleared the way for the creditors committee, equity committee and U.S. Trustee involved in Riverstone’s Chapter 11 case...
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