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NPC Wins Approval for Executive Payments Over Objections

Sept. 17, 2020, 4:51 PM

Federal bankruptcy Judge David R. Jones approves up to $2.75 million in key employee incentive payments in oral ruling Thursday.

  • U.S. Trustee and a a group of Pizza Hut drivers both objected to the payments but Jones overruled those objections
  • “The numbers are so relatively small that I’m comfortable being wrong,” Jones said in approving the plan
  • Cash payments will go to seven NPC executives; maximum total payout of $2.75m is dependent on reaching revenue targets and the sale price of co. assets: court filing
  • NOTE: NPC Files Bankruptcy Plan With Both Sale, Reorganization Options
  • The case is NPC International...

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