May 1, 2018 / 9:59 PM / 4 months ago

Pacific Drilling unveils insider bonuses to spur restructuring, revenue

Pacific Drilling SA is seeking court approval for a plan to pay as much as nearly $13 million to 11 top managers to spur them to boost the bankrupt drillship operator’s financial performance and push it toward a reorganization.

The Luxembourg-based company in court papers filed on Monday said it would argue for an order for the bonus pool in its proposed key employee incentive program, or KEIP, at a hearing on May 17.

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

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