LSC Communications OK for DIP loan, executive bonuses

By Rick Archer (June 2, 2020, 5:48 p.m. EDT) – Commercial printing company LSC Communications secured approval from a New York bankruptcy judge on Monday to accept $ 100 million in Chapter 11 funding and pay up to $ 14 million in executive bonuses.

In a teleconference hearing, U.S. bankruptcy judge Sean Lane approved a debtor-in-possession financing agreement that included changes in response to creditors’ objections and quashed claims by the U.S. trustee’s office that a half – a dozen company executives had been unduly included in the list of bonus recipients.

LSC filed for Chapter 11 in April, claiming it was suffering from long-term market migration to …

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