Cancer Center Lobbyist Tells 2nd Circ. Bonuses Were Earned
Jeffrey Gleit was mentioned in the article, "Cancer Center Lobbyist Tells 2nd Circ. Bonuses Were Earned," which was published in Law360 on March 25, 2020.
The article discusses a case involving a lobbyist who worked for cancer center 21st Century Oncology Holdings Inc. who told a Second Circuit Court of Appeals panel that he earned at least $5 million in bonus payments before he left the company and that Chapter 11 rules don’t bar payment of that money. The reorganized debtor in this case is represented by Jeffrey Gleit and Allison Weiss.
In the article, Jeff said the company is merely trying to enforce Section 502(b)(7) by capping his bonus payments at $3.5 million, and that Woods had failed to meet other requirements necessary to actually earn the rest of the bonuses, including staying employed with the company for a period of five years.