Mine executives received bonuses before bankruptcy
February 17, 2021
CASPER – Executives of a bankrupt coal firm in the Powder River Basin received over half a million dollars in bonus payments in the year leading up to the company’s bankruptcy filing, court documents reveal.
Lighthouse Resources paid 11 “insiders” within the company and its subsidiaries a total of $3.3 million, including at least $702,500 in bonuses, in the 12 months before filing for bankruptcy.
These insiders included a president, chief operating officer, treasurer, general manager, two secretaries and four directors.
The company also reported $2.5 million in “payments relate...