Going into this year’s cash-flow turbulence, the Echo Bay company had no lawyer, no chief financial officer and no liability insurance for its officers and directors
If Patrick Walsh can find the right turnaround magic to sprinkle on Springer Aerospace, he'll collect a $75,000 bonus on top of the $25,000-a-month-plus-expenses paycheque he signed up for last week.
"The chief restructuring officer role is proposed and supported by Springer’s current senior management and the [court-appointed insolvency monitor], among others," the judge said. "A chief restructuring officer is required to lead the restructuring efforts from an operational point of view."
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