Hussey pushes to expedite settlement

Dec 15, 2011 | 03:43 PM | Chris Prentice

Tags  Hussey Copper, Roy Allen, Michael Rodgers, copper fabricator, Chris Prentice

NEW YORK — Hussey Copper Corp. has arranged a new settlement plan with its creditors committee.

Hussey’s committee of unsecured creditors plans to withdraw its objection to Hussey’s employee incentive plan in an effort to expedite the settlement process, according to papers filed with the U.S. Bankruptcy Court in Delaware Wednesday.

The agreement will have Hussey chairman and chief executive officer Roy D. Allen paying out $600,000 to satisfy the terms of the revised plan, according to the filing.....

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