The MSM is not reporting the most important news item in this story! Not one has named the IDIOT judge that allowed the bonuses to these people. No sane person (much less a judge)would give a monetary bonus to a officer or employee of a bankrupted Chapter 7 company. I guess the captain of the cruise ship that ran his ship ground off the Italian west coast, Francesco Schettino should get a bonus also!!! Can anyone tell me the judges name so I can nominate them to the Dumberest Award on dumbdumberdumbest.com !!!
Actually you are quite wrong. They are called retention bonuses. You sign an agreement to fulfill certain requirements over a set period of time and at the end of the period you receive the bonus.
They make sense for key people since the period of time is too short to justify hiring a replacement, yet the skill set is essential to capture asset value during liquidation or restructuring.
“Can anyone tell me the judges name so I can nominate them to the Dumberest Award on dumbdumberdumbest.com !!!”
Here’s a clue. What do you call a lawyer who is so bad that no on will hire him?
Answer: Your Honor, or Congressman