CST Creditors Blast Possible $2.1M Bonuses For Execs

Law360, Wilmington (October 10, 2017, 7:48 PM EDT) -- The unsecured creditors committee in CST Industries Holdings Inc.’s Chapter 11 case took issue Monday with the storage tank maker’s bid to pay executives bonuses court papers indicate could be up to a total of $2.1 million, arguing the brass just received extra pay four months ago.

In an objection before the Delaware bankruptcy court, the official committee of unsecured creditors said that the eight employees, two of whom are insiders, eligible for the bonuses — called a key employee incentive plan, or KEIP — already...
To view the full article, register now.