Owens Corning was well within its rights to offer bonuses to its top executives to keep them from leaving the bankrupt corporation, a judge said Wednesday. Creditors had challenged the proposed $2.3 million payout by the Ohio-based company, which was granted bankruptcy protection in 2000 as it struggled with asbestos litigation costs. Nearly 300 managers are eligible for some type of bonus.
Judge OKs Bonuses for Owens Corning Executives
The Associated Press
September 10, 2004