The SEC has also raised an objection to the $55m in bonus payments made to 550 Enron employees just before the company filed for bankruptcy. It is thought possible that the court could demand the repayment of these monies from current or former employees.
Enron claims that the retention bonuses are needed if it is to successfully wind-up or even emerge in some form from bankruptcy protection.
More Objections To Enron Bonus Plan
US Bankruptcy Judge Arthur Gonzalez was asked by Enron last month to approve a plan that would release bonus and severance payments to 1,700 key corporate staff at a cost of up to $140m. The US Securities and Exchange Commission (SEC) has now filed an objection with the court, complaining that the payment plan is too vague.
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