USSC – Sept 28, 2015
September 28, 2015
We are pleased to report that following a contested hearing, the CCAA Judge ordered the payment of retention bonuses owing under severance agreements to three USSC employees.
We had brought a motion on behalf of the three USSC employees after USSC and the Monitor stated that USSC would not be making certain severance payments that are required under termination agreements for the three individuals. USSC relied on the provisions in the Initial CCAA Order to deny making the payments. The Court found that the payments owing were for compensation for post-CCAA filing services provided by the employees to USSC and were not subject to the Initial CCAA Order provisions that prevented the company from making such payments.
A copy of the Endorsement of the CCAA Judge dated September 29, 2015 can be viewed here.