We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

U.S. Trustee Fights Werner’s $6M Payout Plan

Law360 (July 19, 2006, 12:00 AM EDT) -- Just one month after Werner Co. slipped into Chapter 11 bankruptcy protection, federal bankruptcy authorities are objecting to the leading ladder manufacturer’s bid to dole out millions of dollars in bonuses to some of its top executives, saying the proposed payouts are actually key employee retention plans in disguise.

Last month, the ladder maker sought the bankruptcy court’s approval to pay more than $6 million in bonuses to workers at the supervisory or professional level or above, including those who are crucial to the company’s ongoing...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.