RadioShack Judge OKs $5.5M Deal With Pa. Store Managers
Law360, Washington (February 11, 2016, 4:38 PM EST) -- The liquidating trustee overseeing RadioShack's bankruptcy agreed to pay $5.5 million in unsecured claims to a class of store managers who did not receive overtime pay from the now-bankrupt electronics retail chain under a settlement a Delaware federal bankruptcy judge approved Wednesday.
Under the agreement, the 569 managers who worked at Pennsylvania RadioShack Corp. locations are to receive a general unsecured claim of $3.67 million, and a $1.83 million claim will be allocated to their attorneys, which covers all legal fees and expenses. U.S. Bankruptcy Judge Brendan L. Shannon approved the settlement between Peter Kravitz, the liquidating trustee for the company...
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