executive pay

Hawker Bankruptcy
2:29 pm
Tue July 24, 2012

Justice Department Opposes Hawker Bonus Plan

The Justice Department’s bankruptcy watchdog agency opposes a move by Hawker Beechcraft to pay eight senior executives more than $5.3 million in bonuses.

In a court filing yesterday, U.S. Trustee Tracy Hope Davis argued that Hawker Beechcraft hasn’t shown that its proposed bonus plan isn’t a disguised retention plan. Bonus plans are allowed, but must do more than simply reward managers for staying during a bankruptcy reorganization. Hawker Beechcraft calls it an incentive award and says its plans are consistent with its commitment to strongly emerge from bankruptcy.

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