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

Conn. Objects To Newspaper's Exec Bonus Plan

Law360 (March 5, 2009, 12:00 AM EST) -- The state of Connecticut is looking to stop bankrupt newspaper publisher the Journal Register Co. from paying executive bonuses of up to $1.7 million while simultaneously slashing hundreds of jobs.

Connecticut, a creditor and party-in-interest in the case, filed an objection Wednesday with the U.S. Bankruptcy Court for the Southern District of New York, saying the Journal Register failed to demonstrate that the bonuses were authorized under the Bankruptcy Code.

“The debtor's decision to reward its executives ... for eliminating [jobs] in the midst of the...
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.