Replies to post #23777 on AbitibiBowater, Inc. (fka ABWTQ)

[In0nS]

I agree it may not be THE make-or break issue, but kerps IS an issue. The Debtor’s are tying to get around 503(c). They SHOULD have formulated a plan that clearly defines how it achieves such…it seems possible to craft a purely incentive plan by setting clear benchmarks. But the Debtor’s plan is vague on definition of specific triggers. Nonetheless, the Debtor’s plan front-loads more than one-half its award value on or near emergence. Furthermore, Debtor’s try to define their way out of 503(c) by saying that the awards are not “payments” or “transfers.” Well, what the HECK are they?

As far as your devil’s advocate argument, I wholeheartedly welcome your input, but I believe (coming from a non-lawyer) the legal question is NOT whether they can threaten to leave…but whether they have a “bona fide” competing job offer at the same or greater rate of compensation or their services are “essential to the survival of the business.” I don't see that, do you?