Pousse bankruptcy bill debts
In seeking bankruptcy protection in late 2002, Conseco Inc. launched a plan shower key executives with millions of dollars in retention bonuses when they are taxed in the reorganization of the company.
The stroke of luck for the six officers, or more than 9 million dollars, is only one of many cases in which companies have attempted to poor, still in bankruptcy dangling lucrative incentives for conducting the deterrent forces of the leak.
But in the wake of scandals such as Enron Corp. and WorldCom Inc. (now MCI Inc.), U.S. senators of both parties want to avoid what they perceive as an abuse of corporate bankruptcy.
Pending legislation would be more difficult for consumers to move away from their debts amended, would be that companies of paying premiums insider retention and severance payments. The bill would also be necessary to appoint special representative in the event of bankruptcy, in which firms of fraud is suspected.
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