Court Seals Hearing On Exec Bonuses

Law360, New York (August 10, 2006, 12:00 AM EDT) -- A bankruptcy judge has sealed the record for the hearing on bankrupt ladder maker Werner Co.’s motion to pay bonuses to top executives.

Judge Kevin Carey’s order, signed Tuesday, allows the debtors to exclude nonobjecting third parties other than the debtors pre-petition and post-petition secured lenders from the courtroom. He also denied telephone access during a hearing, scheduled for later this month, to consider the plan.

All nondebtor parties attending the hearing are forbidden from disclosing any and all information related to the incentive plan motion,...
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