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Court Overrules Objection to Diamond Incentive Program

The U.S. Bankruptcy Court for the District of Delaware overruled the committee of unsecured creditors' objection to a Diamond Glass' motion authorizing pay incentives for senior management once the sale of the company is complete during a hearing held yesterday. (CLICK HERE for related story.)

Diamond Glass filed for bankruptcy on April 1. Currently, an auction to bid for the sale of the company's assets is scheduled for June 5. Bids for the auction, which will be held June 5 in the offices of Young Conaway Stargatt & Taylor LLP in Wilmington, Del., are due on June 3. (CLICK HERE for related story.)

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