Attorneys for failed electric car maker CODA Holdings have withdrawn a request asking a bankruptcy judge to approve up to $425,000 in bonuses for 16 top managers and directors, the Associated Press reported yesterday. The company withdrew the request prior to a hearing yesterday after it drew objections from creditors and a U.S. Trustee. Attorneys for the government and CODA's creditors' committee argued in court papers last week that CODA's proposed bankruptcy financing and sale plans unfairly benefit a group of debtors, led by an affiliate of Fortress Investment Group, who are seeking to acquire the company for $25 million.
