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Old 12th May 2019, 16:27
  #18 (permalink)  
pax britanica
 
Join Date: Aug 2001
Location: se england
Posts: 1,147
Having worked for a company that went through this process in Chapter 11 a supervising judge has to approve all significant expenditure. Sometimes there is also a creditor committee which can stop or approve things;the judge then agrees with either the company or the creditors if they are not aligned. .

The utterly dishonest practice of paying the incompetent management wh. There is of course an argument for retention payments for key staff , in this case the crews and key ops staff , you dont want them to leave because no one is going to join a lame duck but to pay the management thats just a bad joke ran the company into bankruptcy to pay themselves retention bonuses is by any normal standards criminal but its just another perk of the higher corporate world
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