Toys 'R' Us bankruptcy plan ties payouts to manager lawsuits [MSN Money]
KKR & Co. Inc. (KKR)
Last kkr & co. inc. earnings: 1/31 06:50 am
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Source: MSN Money
(Bloomberg) -- Toys “R” Us Inc. won court approval on Tuesday for a bankruptcy exit plan that ties creditor recoveries -- including severance pay for 33,000 fired workers -- to lawsuits against the defunct retailer’s former officers and directors. Load Error The decision by U.S. Bankruptcy Judge Keith L. Phillips means a litigation trust will be set up to try to hold Toys “R” Us’s former managers responsible for the company’s demise by suing them. Under a settlement approved by Phillips in August, that trust can also go after officers who worked for the company’s owners, Bain Capital and KKR & Co. which led a 2005 leveraged buyout that saddled Toys “R” Us with $5 billion in debt it couldn’t repay. No matter how much that trust raises, however, the fired “workers expect to get just a fraction” of the $75 million they claim they are owed, said Carrie Gleason, policy director for the labor activist group, Organization United for Respect. “We know that working people ar
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News
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KKR
Earnings
- 2/7/24 - Beat
KKR
Sec Filings
- 4/10/24 - Form 8-K
- 4/10/24 - Form 8-K
- 3/27/24 - Form 8-K
- KKR's page on the SEC website