Auto parts maker Marelli Automotive Lighting USA LLC is seeking bankruptcy court permission to hand out as much as $32.5 million in bonuses to its top executives next year.
The company is looking to implement a plan allowing it to pay incentive bonuses to 12 executives if they meet several performance metrics, according to a Dec. 19 motion in the US Bankruptcy Court for the District of Delaware.
The Saitama, Japan-based company also proposed as much as $87.3 million in bonuses to help retain nearly 13,400 other non-insider employees.
Marelli, which says it’s one of the world’s largest auto part ...
Learn more about Bloomberg Law or Log In to keep reading:
See Breaking News in Context
Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.
Already a subscriber?
Log in to keep reading or access research tools and resources.