Bumble Bee's Executive Bonuses Approved In Ch. 11 Case
Law360, Wilmington (January 13, 2020, 6:59 PM EST) -- A Delaware bankruptcy judge on Monday agreed to approve a key employee incentive plan covering 37 executives of canned seafood distributor Bumble Bee Inc., saying the evidence shows the covered employees were being properly motivated to achieve a worthwhile goal in the Chapter 11 case.
During an oral ruling Monday, U.S. Bankruptcy Judge Laurie Selber Silverstein said after hearing evidence during a hearing Friday she was convinced that paying the extra compensation was justified because the workers would be pushed to work outside their normal scope of duties while pursuing cost-saving efforts.
Due to the bankruptcy filing, Bumble Bee has been...
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