hertz

A federal judge blasted bankrupt car-rental firm Hertz’s proposal to pay top executives millions of dollars in bonuses as she shot down the plan Thursday. US Bankruptcy Judge Mary Walrath directed the beleaguered company to revise its “offensive” proposal offering up to $14.6 million in bonuses to Hertz employees, including $5.4 million for senior executives. …

Hertz Global Holdings is in talks for a bankruptcy loan of up to $1 billion to fund its business reorganization after suspending its plan to sell new shares, The Wall Street Journal reported on Thursday, citing people familiar with the matter. The car rental firm halted its plan to sell up to $500 million in …

Read More: Carl Icahn’s Hertz could face bankruptcy amid coronavirus woes: sources Carl Icahn takes $1.8 billion loss as he dumps stake in bankrupt Hertz Hertz wants to cash in on surging shares amid bankruptcy Hertz may be on verge of liquidation

Car rental giant Hertz has filed for bankruptcy because it doesn’t have enough money to pay its debts — and its stock is soaring. Welcome to the coronavirus stock market, where mom-and-pop day traders addicted to free trading apps are taking control. The bankrupt car-rental company announced plans to sell up to $1 billion in …

Carl Icahn exited Hertz like a stuntman abandoning a burning car — and he suffered some nasty cuts and bruises on his way out. The billionaire investment tycoon took a loss of more than $1.8 billion as he dumped his entire stake in the bankrupt rental-car company in recent days, according to court filings. Icahn, …

US car rental company Hertz Global Holdings said on Tuesday it has paid about $16.2 million in retention bonuses to a range of key executives at the director level and above, days after the company filed for bankruptcy protection. The company paid president and chief executive officer Paul Stone $700,000, and executive vice president and …

Hertz filed for bankruptcy protection Friday, unable to withstand the coronavirus pandemic that has crippled global travel and with it, the heavily indebted 102-year-old car rental company’s business. The Estero, Florida-based company’s lenders were unwilling to grant it another extension on its auto lease debt payments past a Friday deadline, triggering the filing in U.S. …

Carl Icahn’s car-rental company Hertz may be skidding toward liquidation, The Post has learned. The 102-year-old Hertz — known for tapping O.J. Simpson as its spokesman in the 1970s — could file for bankruptcy in the coming days tied to a tardy collateral payment next due on Friday. As The Post has previously reported, the …

Hertz Global Holdings wants to keep its business in Europe solvent as it prepares for a possible bankruptcy filing in the US, The Post has learned. The struggling car-rental giant backed by billionaire Carl Icahn on Friday asked lenders to its European division, which represents about 20 percent of sales, to sign a waiver by …

Hertz Global Holdings on Monday appointed Paul Stone as its chief executive officer days after the US car rental company raised going-concern doubts following a bigger quarterly loss. Hertz, backed by billionaire investor Carl Icahn, has suffered a “sudden and dramatic negative impact” on its business due to the coronavirus crisis, which has crushed demand …