Bankruptcy Judge Approves $370K In Solyndra Bonuses

FREMONT (CBS/AP) – A Delaware bankruptcy judge has approved close to $370,000 in bonuses for certain employees of Solyndra LLC, a solar panel manufacturer that received a half-billion dollar loan from the federal government before declaring bankruptcy.

Solyndra, in Fremont, wanted to award bonuses of up to $500,000 to as many as 21 employees but scaled back its request after discussions with its official creditors committee.

The judge approved the revised bonus request following a hearing Wednesday.

Solyndra, which has failed to find a buyer to operate the company as a going concern, said it needs to retain key employees with the expertise needed for an orderly liquidation of its remaining assets.

Attorneys for former Solyndra workers laid off just before bankruptcy filing objected to the proposed bonuses.

(Copyright 2012 by CBS San Francisco. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)

  • PLW

    Our government gives a failing company 1/2 Billion dollars of Tax Payers’ money and then it immediately declares bankruptcy… Company begins to shut down and some Liberal judge decides company employees should receive 1/2 Million dollars worth of bonuses,,,, Tax Payers receive no pay back of the 1/2 Billion dollars…. Now our government gets to pick and chose what businesses to support and finance? What kind of government does America have now. It doesn’t look or perform like a Democracy to me!!!! VOTE THESE DIM-WITS OUT OF OFFICE IN 2012!!!!!!!!

  • Clyde

    can someone please tell me the reason behind this. Lets reward failure.

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