ResCap Judge Leaves $8M In Bonuses Up In The Air

Law360, New York (April 11, 2013, 7:04 PM EDT) -- A New York bankruptcy judge on Thursday held off on approving nearly $8 million in bonuses for Residential Capital LLC employees and executives after questioning the fallen mortgage servicer’s attorneys on whether the goals required for the recipients are challenging enough to warrant the pay.

The proposed bonuses prompted an objection from the U.S. Trustee, who is unconvinced that the standards the executives must meet in order to receive the money are difficult to achieve. At a hearing Thursday afternoon, U.S. Bankruptcy Judge Martin Glenn asked...
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