US Trustee Takes Aim At Unilife's $1M Exec Bonus Plan
By Matt Chiappardi
Law360, Wilmington (May 5, 2017, 2:41 PM EDT) -- The U.S. trustee on Thursday took aim at medical device maker Unilife Corp.'s plan to pay top executives up to $1 million in bonuses, arguing that the benchmarks for unlocking the money appear to be so low that they aren't incentives at all and may not pass legal muster.
In an objection before the Delaware bankruptcy court, the federal bankruptcy watchdog’s office argues that at least one key component of the bonus plan, which is tied to a sale and Chapter 11 confirmation for the medical...
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