May 29, 2017
Bankruptcy and Restructuring practice group chair and partner Eric Wilson
, partner Jason Adams
, and senior associate Lauren Schlussel
, were mentioned in the Troubled Company Reporte
r’s article entitled “General Wireless: Committee Tries to Block Approval of Bonus Plans.” The team was noted as representing the official committee of unsecured creditors of RadioShack. The article discussed the committee and its debtor-affiliates filing an objection to the debtors’ proposed key executive incentive plan and key employee retention plan.
The committee feels that the Key Employee Incentive Plans (KEIP) is not reasonable because the proposed plan is excessive and is not designed to incentivize the insider to maximize value and achieve the ultimate goals of chapter 11. The committee is working with the debtors to revise the KEIP in order to address the concerns raised in the objection.