Bankruptcy Watchdog Retires After Career Policing Failed Firms

The U.S. Justice Department’s top bankruptcy watchdog will retire this year after a career spent fighting executive bonuses and lawsuit protection for corporate owners, like the billionaire family that owns Purdue Pharma.

Under Clifford White, lawyers for the U.S. Trustee Program routinely opposed some of corporate America’s favorite Chapter 11 perks, including incentive pay for top managers and a legal shield, known as a third-party release, that is often used to protect owners from creditor lawsuits.

White held the top job in the U.S. Trustee’s office for 17 years, serving under four presidents. The program oversees both consumer ...