U.S. Trustee Objects Again to TSA Exec Bonuses
The U.S. Trustee is asking Judge Mary Walrath to deny the Sports Authority debtors’ New Insider Bonus Motion which seeks to pay three insiders up to $1.525 million dollars, claiming the payments are impermissible retention bonuses. The new proposal replaces the Key Employee Incentive Plan that Judge Walrath had previously denied. The Trustee’s objection claims that the plan contains illusory metrics, including one metric that has already occurred.
The objection questions the debtors motives: “After the Debtors’ original Insider Bonus Motion was denied, the ... Log in to view full article.