February 15, 2018 / 12:33 AM / 10 months ago

Bankruptcy watchdog urges court to reject Cumulus executive bonuses

Bankrupt radio broadcaster Cumulus Media Inc has failed to make a case for court approval of its plans to pay roughly $8 million in bonuses to 11 top employees, including some insiders, the government’s bankruptcy watchdog said in court papers filed on Tuesday.

According to the U.S. trustee’s office, the plans proposed by Cumulus look to be a way to retain the employees as the company works on its restructuring instead of a way to reward performance as required for Chapter 11 debtors.

To read the full story on Westlaw Practitioner Insights, click here: bit.ly/2Es0nwc

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