The Traderszone Network

Published in TZ Latest News 2 October, 2015 by The TZ Newswire Staff

Judges reject bonus plans for executives at bankrupt companies

A U.S. judge on Friday rejected a plan to pay millions of dollars in bonuses to top executives of bankrupt miner Molycorp Inc (MCPIQ.PK), two days after GT Advanced Technologies Inc (GTATQ.PK) failed to get approval of a similar plan. Molycorp, which filed for bankruptcy in June, had said the bonus plan would align executives’ goals with those of its creditors to maintain the value of the rare earth miner’s business.

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