The Real Deal Miami

Bankrupt Tousa plans to pay $1.7 million in bonuses, despite liquidation process

June 08, 2010 04:30PM

Hollywood-based home builder Tousa, which is in the process of liquidation after filing for bankruptcy in January 2008 with $2 billion in debt, wants to give its remaining 29 employees and executives $1.7 million worth of bonuses. The proposed incentive bonus program, which is pending approval in bankruptcy court, calls for payments of between 10 percent and 50 percent of base salaries. Tousa has asked the bankruptcy judge to schedule a motion for approval at a June 16 hearing. [Miami Herald]