November 24, 2017 / 9:23 PM / 10 months ago

Trustee wants former Avaya CEO's deal dropped from Ch 11 plan

Avaya Inc’s bankruptcy reorganization plan should not be approved until it is stripped of a consulting deal worth up to $8.75 million for telecommunications company’s former chief executive, according the U.S. government’s bankruptcy watchdog.

The deal would guarantee Kevin Kennedy, who was also the chairman of Avaya’s board, $7.6 million over two years for consulting services. The U.S. Trustee said in court papers filed on Wednesday that agreement effectively serves as a retention plan.

To read the full story on WestlawNext Practitioner Insights, click here:

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below