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Jerry Bregman Quoted in The Record’s “Legal experts question A&P’s $6 million exec trust fund”

BG Law Partner Jerry Bregman was recently quoted in Joan Verdon’s The Record article “Legal experts question A&P’s $6 million exec trust fund.”  The piece discusses the multi-million-dollar trust fund established for A&P’s executives before its bankruptcy filing, and the question of whether the company may have been preparing itself for bankruptcy.  According to Jerry, retention payments are “often misunderstood by the public because they tend to view those parties who are being paid as being on an equal footing with creditors and others who are tied to the company.”

“The purpose of the KERPs is to attach a tether to folks who really aren’t tied to the company as such and have more mobility and the actual prospect of leaving,” he said.  “A 20-year union employee is not in the same position.  They’re in the position of being a creditor and that’s a tough position to be in.”

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