USA: Ex-Warnaco CEO Wachner Wants $25m Pay-Off
The former CEO of bankrupt clothing giant Warnaco Group Inc, Linda Wachner, is demanding a $25.1 million severance settlement and wants her claim to be given priority over those of other unsecured creditors. Lawyers acting for the ousted Wachner have told bankruptcy court judges she is due the money as she contributed valuably to the company, is due outstanding expenses and also lost money after investing heavily in Warnaco stock.
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