Revlon to Pay C-Suite Up to $36 Million in Bankruptcy Bonuses

Revlon Inc.’s plan to give bankruptcy bonuses to its top executives won approval by a federal judge Wednesday despite opposition from the US Justice Department’s watchdog.

Revlon’s Chief Executive Officer Debra Perelman could collect as much as $10.6 million, the company said in court papers seeking approval of the bonus program. Under the proposal, eight senior executives would receive as much as $36 million, should the company hit certain financial and other metrics.

The proposal has the backing of various creditor groups, including the official committee of unsecured creditors.

Brian Masumoto, the US Trustee representative in the case, argued ...