A $45 million dollar incentive program for executives of the now bankrupt Tribune Corporation was approved by a bankruptcy judge on Wednesday, despite the objections of the bankruptcy trustee and a union affiliated with the company.

The incentive program covers 710 managers and 10 of the company’s top executives.  The company filed for bankruptcy protection in December of 2008, claiming $7.6 billion in assets and $13 billion dollars in liabilities.

If you are a business owner and are struggling to make regular payments on your debts,  you may wish to consider filing for bankruptcy to restructure your business.  For more information on commercial bankruptcy, contact the Boston bankruptcy attorneys of Joshua Spirn & Associates at 800-975-5346 today.