Bankruptcy Judge Kevin Gross yesterday approved Green Field Energy Services Inc.'s employee bonus and retention plans and will allow the company to keep key information about those plans secret, despite objections from a government bankruptcy watchdog, the Wall Street Journal reported today. Judge Gross also approved a request from Green Field's unsecured creditors for the appointment of an examiner to investigative possible legal violations that could alter the terms of Green Field's restructuring plan. U.S. Trustee Roberta A. DeAngelis said before the hearing that Green Field's bonus plan was structured to entice employees to remain with the company through its bankruptcy instead of rewarding them for performance. DeAngelis also objected to Green Field's move to keep key details of the bonus plan — including the identities of bonus recipients and the amount it sought to pay them — permanently shielded from public view by filing them under seal.
