CORRECTED: FirstEnergy Units May Pay $50M For Bonuses In Ch. 11

Law360 (May 15, 2018, 6:16 PM EDT) -- An Ohio bankruptcy judge on Monday authorized units of bankrupt FirstEnergy Corp. to provide up to $50 million in incentive and retention bonus payments to their employees.

U.S. Bankruptcy Court Judge Alan Koschik authorized both the continuation of pre-Chapter 11 incentive programs and post-bankruptcy proposals, but postponed a decision on a $100 million plan intended to prevent employees at FirstEnergy’s three nuclear power plants from jumping ship before the reactors can be decommissioned.

FirstEnergy Solutions Corp. and FirstEnergy Nuclear Operating Co. filed for Chapter 11 protection...
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Case Information

Case Title

FirstEnergy Solutions Corp., Debtor


Case Number

5:18-bk-50757

Court

Ohio Northern

Nature of Suit

Date Filed

March 31, 2018

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