In re Allied Holdings Inc.

Pre 2005-Act: 
Pre 2005-Act
Ruling: 
Court provided that it would approve a key employee retention program with certain amendments to the program since the debtors had a sound business reason for proposing the program.
Procedural posture: 
Debtors, who had filed voluntary petitions under chapter 11, filed a motion for approval of a key employee retention program ("KERP") pursuant to 11 U.S.C. § 363(b). The KERP was supported by the official committee of unsecured creditors and the debtors'postpetition lenders but opposed by a union committee and the U.S. trustee.
Issue: 
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