Bankrupt Battery Maker’s Creditors Object to Proposed CEO Bonus

A proposed bonus plan for a top executive of bankrupt lithium-ion battery maker iM3NY LLC should be rejected because it lacks challenging benchmarks, the company’s unsecured creditors said.

Lukasz Cianciara, the CEO of iM3NY’s bankrupt affiliate Imperium3 New York Inc., would be entitled to a bonus based on the closing of a sale of the company or some of its lender debt, according to an objection filed Wednesday in the US Bankruptcy Court for the District of Delaware.

The bonus proposal for Cianciara, known as a key employee incentive plan, is more of a “‘layup’ than a ‘difficult target,’” unsecured ...