Judge rules Condere must pay $1.2 million

Published 12:00 am Friday, June 8, 2001

Condere Corp. must pay more than $1.2 million in claims by nine former executives, a U.S. Bankruptcy Court judge has ruled.

Under the March 28 ruling by Judge Jerry A. Brown, Condere must pay at least 65 percent — and in some cases, all — of the bank vacation pay, severence, and other compensation owed to the former executives.

Condere went bankrupt in May 1997 and sold its assets to Titan Tire in September 1998, leaving thousands of creditors waiting to be paid. Titan Chief Executive Officer Morry Taylor could not be reached for comment Thursday.

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