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Employee Retention › Bankruptcy Code

Troutman Pepper Locke

Should I Remain Employed by the Debtor? What to Know About KEIPs and KERPs - Creditor’s Rights Toolkit

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For a debtor in financial distress, having the right team in place to steward the company through a restructuring can mean the difference between success and failure. To incentivize top talent to stay with the debtor and...more

Patterson Belknap Webb & Tyler LLP

Above-Board: Officers of a Corporation Not Entitled to Key Employee Retention Plan Payments

Patterson Belknap Webb & Tyler LLP on

A key goal of the Bankruptcy Code is to prevent corporate insiders from profiting from their employer’s misfortune. Section 503(c) of the Code makes clear: “there shall neither be allowed, nor paid... a transfer made to, or...more

Patterson Belknap Webb & Tyler LLP

Bankruptcy Court Rules Section 327 Inapplicable to Certain Management Consultant Retentions

Patterson Belknap Webb & Tyler LLP on

Section 327(a) of the Bankruptcy Code imposes restrictions on the employment of professionals to assist a trustee, requiring that such professionals “not hold or represent an interest adverse to the estate” and be...more

Herbert Smith Freehills Kramer

Delaware Bankruptcy Court Upholds Bankruptcy Code Pre-emption Invalidating Pre-Petition Claims as Part of Post-Petition KERP

Herbert Smith Freehills Kramer on

The Delaware Bankruptcy Court, in In re Old BPSUSH Inc., Case No. 16-12373 (Bankr. Del. June 1, 2018) [Docket No. 1787], upheld provisions in a post-petition key employee retention plan (KERP) that provided for a waiver of...more

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