Intelsat bankruptcy court approves up to $17 million in incentive payments to 6-member management team

by Peter B. de Selding

PARIS — Intelsat’s bankruptcy court approved an incentive plan of up to $17 million for the company’s six-member management committee after modifications following objections from the U.S. Trustee for the court’s jurisdiction, the Eastern District of Virginia.

The U.S. Trustee questioned whether the payment of up to $17 million at the end of the year was not a retention bonus to keep management in their jobs rather than an incentive package to reach difficult company targets.

The modifications raised, if . . .

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