Objections to Hussey settlement filed
Dec 23, 2011 | 03:28 PM
| Chris Prentice
Tags
Hussey Copper,
U.S. Trustee,
Roberta DeAngelis,
Michael Rodgers,
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 Hussey’s settlement plan. Rodgers said he was terminated and unfairly cut out of Hussey’s 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 Hussey’s 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 Hussey’s "confidential information was being shared with (Hussey’s) chief competitor" in the week prior to the fabricator’s sale, the filing said. ....
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