Bankrupt companies gave $165 million in bonuses to top execs ...

Each company gave its top executives a pay bonus last year just before declaring Chapter 11 bankruptcy. So did Neiman Marcus, as well as oil ...

Top execs received $165M before bankruptcy filings last year: GAO

Top executives at some companies received $165 million in bonuses before filing for bankruptcy last year, according to a report from the ...

Failing Firms Paid $165 Million in Bonuses Ahead of Bankruptcy

Bonuses handed out to executives just before their companies go bankrupt need tighter scrutiny because current laws aimed at curbing ...

Corporate Executives & Bonuses on the Eve of Bankruptcy

... bankruptcy retention bonuses to 223 executives, totaling approximately $165 million.[2] These pre-bankruptcy bonuses were awarded to ...

Bankruptcy bonuses for top executives are in trouble, if this ... - Reuters

Bonuses for executives of bankrupt companies have been commonplace for many years now, occurring either during a bankruptcy or shortly ...

During the COVID-19 Meltdown, Execs Pocketed Big Bonuses While ...

We're talking about a grand total of $571 million in bonuses to more than 16600 leaders at companies that were—or are—in deep, deep trouble.

Executives' pre-bankruptcy bonuses stir outrage, little action in ...

Republican Rep. Greg Steube would limit executive bonuses in bankruptcy cases, but it isn't clear his bill will receive consideration.

Yellow paid executives $4.6 million in bonuses for bankruptcy wind ...

The amount it paid the execs was higher than it would have been had Yellow avoided a sudden bankruptcy filing.

Bankrupt retail chain's CEO pay package threatens its future

Retention bonuses, however, are more restrictive, but allowed in some cases. The Covid-19 pandemic led to thousands of bankruptcy filings since ...

Executives Get Big Time Bonuses Before Companies File For ...

Questions about a corporate or Chapter 11 bankruptcy? Call the West Palm Beach bankruptcy lawyers at Kelley Kaplan & Eller.

Burchett, Bustos introduce bipartisan legislation to end abusive ...

KNOXVILLE, Tenn. (Oct. 14, 2021) -- Yesterday, U.S. Representatives Tim Burchett (TN-02) and Cheri Bustos (IL-17) introduced legislation to ...

Pre-bankruptcy payouts under fire from government watchdog

Pre-bankruptcy bonuses have become so commonplace that they are often an indication that a Chapter 11 is imminent. Retail likely accounts for an outsized share ...

Congress Needs To Pass a New Rule To Adjust Bankruptcy Protocol

... gave $165 million in bonuses to top execs before going belly up last year.” Germain, an expert on bankruptcy, discussed the activity of companies who have ...

Executive Bonuses Paid Before Bankruptcy Should Be Curbed, GAO ...

The Government Accountability Office said companies near bankruptcy paid $165 million in retention bonuses in the 2020 fiscal year outside ...

Bill introduced in Congress to end executive bonuses in bankruptcy

Execs making over $250,000 per year would be barred from bonuses; Bill follows report of $165 million in bonuses paid before Chapter 11.

Big-buck bankruptcy bonuses need reining in, government ...

Congress should crack down on bonuses awarded to senior executives just before companies succumb to bankruptcy, a government watchdog said.

GAO-21-104617, BANKRUPTCY - Government Accountability Office

Chapter 11 bankruptcy allows a company (debtor) to restructure its debt—so that it may continue to operate—and generally retain its executives.

Companies paid $165 million in bonuses before going bankrupt

Bankruptcy, employee bonuses: Chuck E. Cheese, Hertz and J.C. Penney are among the many companies that paid millions of dollars in bonuses ...

Executives' pre-bankruptcy bonuses stir outrage, little action in ...

CEOs receiving bonuses as their companies teeter on the brink of bankruptcy have drawn the ire of members of Congress who say the payouts ...

Pre-Bankruptcy Bonuses - QuickRead | News for the Financial ...

42 were found to have awarded pre-bankruptcy retention bonuses to a total of 223 executives, with the bonuses totaling approximately $165 million.