Law360 (May 22, 2020, 3:37 PM EDT) -- A New York bankruptcy judge on Friday approved nearly $38 million in bonus payments for Frontier Communications Corp. executives, saying the boosted pay appears to be in line with industry standards and not earmarked for company insiders.
At a telephone hearing, U.S. Bankruptcy Judge Robert Drain approved the proposed bonuses over an objection from the U.S. Trustee's Office after hearing that two creditor groups had dropped their own objections when Frontier agreed to adjust the payment schedule.
Cable provider Frontier filed for Chapter 11 protection in April, saying issues with integrating recent acquisitions, "fierce" competition, changing consumer preferences and the need...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!