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Author Topic: hostess wants pay executive bonuses while "liquidating"  (Read 232 times)
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« on: November 19, 2012, 11:39:08 AM »

Apparently the U.S. Trustee's Office, which oversees bankruptcy cases, is taking issue with that. If Hostess is forced into Ch. 7, there will be much more government oversight over how they wind down the business.
 
The U.S. trustee in the bankruptcy of Hostess Brands Inc. asked a judge to take control of the company’s liquidation away from the baker of Twinkies and Wonder bread.
 
U.S. Trustee Tracy Hope Davis today urged U.S. Bankruptcy Judge Robert D. Drain in White Plains, New York, to convert the case to a Chapter 7 from Chapter 11, based partly on the company’s intent to pay executive bonuses.
 
Hostess officials “have not demonstrated that the insider bonuses are permissible,” Davis wrote in a court filing.
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« Reply #1 on: November 19, 2012, 11:50:57 AM »

And? You don't think bonuses are already built into the budget and salary structure?
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« Reply #2 on: November 19, 2012, 11:55:04 AM »

And? You don't think bonuses are already built into the budget and salary structure?

So that makes it cool? Lol
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« Reply #3 on: November 19, 2012, 12:04:30 PM »

So that makes it cool? Lol

You think shutting down a icon for a dollar raise, losing 18500++++++ jobs is cool? Yeah, makes sense Roll Eyes
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« Reply #4 on: November 19, 2012, 03:59:20 PM »

You think shutting down a icon for a dollar raise, losing 18500++++++ jobs is cool? Yeah, makes sense Roll Eyes

Hey 33....   Smiley
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