NewPage Corp. says its executives are in danger of being treated like pawns as second-lien investors seek to probe the company’s plans for bonuses.
A bankruptcy judge has scheduled an emergency hearing Wednesday on the company’s bid to protect executives from being grilled by the investors.
The bonuses are linked to a turnaround business plan for NewPage, a preliminary proposal to the company’s Chapter 11 plan that will ultimately say how much each group of creditors will collect.
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