Advertisement

Dextera Surgical Payment Change Sought

Advertisement

Dextera Surgical filed with the U.S. Bankruptcy Court a supplement to its motion for an order authorizing the Debtor to pay change in control severance benefits to certain executives.

The filing notes, “In response to informal comments received from the Office of the United States Trustee, and notwithstanding any provisions of the Motion to the contrary, the Debtors propose to pay Executive Severance Benefits to Executives as follows: (i) as soon as practicable following the entry of an Order approving the Motion, the Debtor shall pay an amount not to exceed $93,562.20 to any one Executive; and (ii) the balance of the amounts owed to an Executive, if any, shall be an allowed general unsecured claim against the Debtor’s estate.

Read more bankruptcy news.