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C&J Energy Services Objection Filed

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The U.S. Trustee assigned to the C&J Energy Services case filed with the U.S. Bankruptcy Court an objection to the Debtor’s non-insider compensation program.

The objection explains, “The Debtors seek an order approving bonuses under the Non-Insider Compensation Program (NICP). First, the Debtors have not met their burden to show that all employees eligible to participate in the NICP are not ‘insiders,’ as that term is defined in under 11 U.S.C. section 101(31). Second, payments of bonuses attributable to the pre-petition period or in excess of the priority cap are impermissible payments of pre-petition, unsecured claims that violate the distribution scheme of the Bankruptcy Code and that prejudice creditors.”

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The post C&J Energy Services Objection Filed appeared first on Daily Bankrupt Company Updates | Bankrupt Company News.


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