In re Brooklyn Hosp. Ctr.
May
04
2006
Ruling
Motion to authorize implementation of a key employee retention plan ("KERP") was granted since the consideration received in exchange for the KERP payments served an important corporate interest.
Procedural posture
Chapter 11 debtor, a hospital and its affiliates, moved for an order, pursuant to 11 U.S.C. §§ 105(a) and 363(b), approving and authorizing the implementation of a key employee retention plan ("KERP") for the purpose of retaining key employees of the debtor. Two parties, the state nurses'association and the trustee, objected to the approval of the KERP.
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Court
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