U.S. Trustee objects to merger proposal because of management compensation
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That severance deal that gives Tom Horton near $20 million when he steps down as American Airlines CEO has brought a protest from U.S. Trustee Tracy Hope Davis.
In fact, she doesn’t like the carrier’s severance and retention payments to all managers as provided in the US Airways merger deal. Davis’ filing saidthe court needs to see more justification that they don’t exceed what Congress allowed in a 2005 change to the federal bankruptcy code.
Davis filed an objection in U.S. … [visit site to read more]
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