1. With Diminishing Pushback, Executive Bonuses in Bankruptcy Veer Toward 'entitlement'

    With Diminishing Pushback, Executive Bonuses in Bankruptcy Veer Toward 'entitlement'

    (Reuters) - Earlier this year, some of Mallinckrodt's creditors balked at the prospect of rewarding top executives of the bankrupt pharmaceutical company with bonuses when management was facing accusations of misconduct. But their complaints didn't persuade the judge overseeing the case, who ruled that the 12 executives could collect about $30 million in performance bonuses if they met certain goals...

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    1. Overall, we are concerned that bonuses are considered an entitlement.
    2. As unsecured creditors, they're relying on management to get them the best result possible in a bankruptcy case.
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