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Revlon Approved to Pay Key Employees a Bonus in Bankruptcy (1)

July 22, 2022, 5:26 PM

Cosmetics giant Revlon Inc. won court approval to pay $15.4 million in bonuses to about 150 top employees in order to keep them with the company while it reorganizes in bankruptcy.

  • US Bankruptcy Court Judge David S. Jones in Manhattan approved the request at a video hearing Friday
    • Jones overruled an objection by the US Trustee, which had argued that at least six of the employees are barred from such retention payments because they are company insiders
    • The judge sided with company officials who said the duties of the six showed they don’t hold policy-making roles, which is one test ...