Quantcast
Channel: Daily Bankrupt Company Updates | Bankrupt Company News
Viewing all articles
Browse latest Browse all 4593

iHeartMedia Incentive Plans Objection Filed

0
0

The U.S. Trustee filed with the U.S. Bankruptcy Court an objection to iHeartMedia’s motion authorizing and approving the Debtors’ 2018 Incentive Plans. The Trustee asserts, “The Debtors seek Court approval of the 2018 Incentive Plan for Insiders (‘IPI’). More specifically, the Debtors seek an order approving bonuses under the IPI to eleven (11) insiders who are members of the Debtors’ senior management team. The Court should deny approval of the IPI because it violates the strict limitations imposed by section 503(c) of the Bankruptcy Code. Despite the Debtors’ attempts to disguise the IPI as an ‘incentive’ plan, the bonuses are primarily retentive in nature and thus subject to section 503(c)(1). And even if subject to the standards in section 503(c)(3), the Debtors have not shown that the IPI is justified by the facts and circumstances of these cases. The Court should not approve the Motion under either framework.”

Read more bankruptcy news.

The post iHeartMedia Incentive Plans Objection Filed appeared first on Daily Bankrupt Company Updates | Bankrupt Company News.


Viewing all articles
Browse latest Browse all 4593

Latest Images

Trending Articles


Om Shanti Om 2007 Hindi 720p BluRay 1.2GB Download Khatrimaza


Shivaay 2016 Hindi 450MB pDVDRip 480p


Download ChipGenius 4.18.0203 2018


5 Pasalubong Ideas From Tarlac


Host api.mendeley.com not found


Diescho leaves country


Beverly Atkins


Natsamrat(2016) Full Marathi Movie HDRip Print Download


Why Him 2016 Dual Audio Hindi 480p BluRay 300mb


Download Android 8.1 stock firmware for HK1 Mini TV Box





Latest Images