Wallace and McQuaid Publish Article on Bonuses in Bankruptcy Cases
Partner Steven Wallace and associate attorney Amanda McQuaid recently authored a Counterpoint editorial in the Illinois Business Journal on whether courts should allow business senior management to receive incentive bonuses when the business is undergoing Chapter 11 bankruptcy. Wallace and McQuaid offered a brief overview of key employee incentive program (KEIPs) legislation, then turned their legal eye on a recent Sports Authority case. Although the authors believe there are circumstances where KEIPs are appropriate, they detailed why the Sports Authority case was not one of those circumstances. (The full article can be read here.