So the whole mechanism to these bonuses is for the banks/investors to keep the executives around long enough to not lose the institutional knowledge and to keep the company heading in a general direction during the bankruptcy chartering.
Its nice to see bankruptcy courts wising up to these schemes, but I'm not sure this isn't something lawmakers or regulators need to adjust to avoid more of.
[1] https://www.chicagotribune.com/business/ct-biz-sears-lampert...
From the linked article: "In 2015, Sears sold 235 stores, along with its stake in joint ventures involving 31 more properties, to real estate investment trust spinoff Seritage Growth Properties. Lampert is both a stakeholder in Seritage and its chairman."
[2] https://www.fool.com/investing/2018/08/01/heres-why-seritage... [3] https://www.fool.com/investing/2018/11/06/with-sears-on-the-...