Bankruptcy Judge Christopher Sontchi has approved Energy Future Holding’s plan to award $20 million in bonuses to top executives despite objections from the U.S. Trustee’s office, the Dallas Morning News reported today. Judge Sontchi said at a hearing yesterday that the bonus programs met legal standards in that it incentivized performance and was not designed solely to keep executives from leaving the company. EFH, formerly TXU Corp., filed for bankruptcy in April, seven years after it was taken private for $45 billion, the largest leveraged buyout in U.S. history.
