Objections to Hussey settlement filed
Dec 23, 2011 | 03:28 PM
| Chris Prentice
NEW YORK Hussey Copper Corp. is facing objections to its settlement plan from a former employee and the U.S. trustee overseeing the case, according to court documents filed Thursday.
Michael K. Rodgers, former vice president of sales and marketing at the Leetsdale, Pa.-based copper fabricator, has requested that the U.S. Bankruptcy Court in Delaware deny Husseys settlement plan. Rodgers said he was terminated and unfairly cut out of Husseys employee incentive plan, according to a document filed by Rodgers counsel.
Rodgers was set to receive 15 percent of an incentive pool of up to $1.3 million in recognition of his efforts during Husseys refinancing and sale process, according to the court documents. The former executive claimed he was placed on leave and eventually fired for expressing displeasure that Husseys "confidential information was being shared with (Husseys) chief competitor" in the week prior to the fabricators sale, the filing said. ....
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