A bankruptcy judge blasted Hertz Global Holdings Inc.’s plan to pay top managers up to $14.6 million in bonuses after they collected millions in additional bonuses days before the rental car company filed for bankruptcy.
“It seems offensive to give senior executives bonuses when they were paid” retention compensation immediately before the bankruptcy was filed, Judge Mary Walrath said Thursday in U.S. Bankruptcy Court in Wilmington, Del. The 14 most senior executives could receive as much as $5.4 million.
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