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Mon 19 Jan, 2009 12:42 pm
If an employer pays arguably excessive compensation to its executives and then files for bankruptcy, can the bankruptcy court order those executives to disgorge the portion of their past compensation that exceeded the reasonable value of their services? How far back can the court go?
Not if the compensation was part of the employee package. And "excessive" is open to interpretation, too.
Note to Self: Better to find out HOW a loan or gift is to be spent, BEFORE handing over the money.
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