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In re Fieldstone Mortg. Co.

A chapter 11 debtor filed a motion to authorize payments pursuant to a key employment retention plan (KERP) to seven employees. In an earlier opinion, the court granted the motion. On remand from the United States District Court for the District of Maryland following a reversal, the issue was whether any of the seven employees were able to satisfy the limitations set forth in 11 U.S.C.S. § 503(c)(1) in order to receive payments under the KERP.
Breach of contract claim was within core jurisdiction over allowance and disallowance of claims.
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Commercial case opionion summary, case decided on February 25,2010, LexisNexis #0510-132