Tom Horton's severance is probably in the golden parachute bag if the court applies the business judgment rule rather than Section 503(c) of the Bankruptcy Code

The U.S. Trustee in American’s Chapter 11 bankruptcy proceedings is challenging American’s $19.8 million golden parachute for its CEO Tom Horton.

Filed under:
USA, Insolvency & Restructuring, Litigation, Zuckerman Spaeder LLP, Debtor, Business judgement rule, Severance package, US Congress, Enron
Authors:
Ellen D. Marcus
Location:
USA
Firm:
Zuckerman Spaeder LLP
The Inbox - March 29, 2013

Grab your matzoh or Scotch cream eggs or whatever your favorite snack is this time of year and settle in for this week’s Inbox on Suits by Suits:

Filed under:
USA, Employment & Labor, Insolvency & Restructuring, Litigation, Zuckerman Spaeder LLP, Severance package
Authors:
Ellen D. Marcus
Location:
USA
Firm:
Zuckerman Spaeder LLP