U.S. Trustee: $145,000 Bonus Should Be Denied Based On Its 'Retentive' Nature

U.S. Trustee: $145,000 Bonus Should Be Denied Based On Its 'Retentive' Nature

WILMINGTON, Del. - The U.S. trustee in the Chapter 11 bankruptcy of IPC International Corp. on Aug. 27 filed a brief objecting to the company's plan to pay a $145,000 bonus to IPC's chief financial officer (CFO) for work done before the filing of the bankruptcy petition, which makes it "retentive" in nature, which is a violation of Bankruptcy Code (In Re: IPC International Corporation, No. 13-12050, Chapter 11, D. Del. Bkcy.).

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