Bixi staff got bonuses just before bankruptcy filing

It seems management at the company that runs the troubled Bixi bike-sharing system paid themselves, and all of their employees bonuses back in December, just weeks before filing for bankruptcy protection, claiming debts of close to $50 million.

Tuesday morning, the leader of the opposition at Montreal City Council, Projet Montreal's Marc-André Gadoury, says he got an anonymous letter informing him the company paid out the bonuses — which amounted to anywhere from $223,000 to $275,000, split among the company's 38 employees.

Gadoury asked the mayor if he was aware of the payouts. Coderre says, he got the same letter, and said he was "shocked" and "troubled" by the story.

"If it's true, it's maddening," Coderre told council. "As a creditor, we will get answers. If there was something done that shouldn't have been done, there will be consequences."

Of the $50 million owed by the company, $38 million is owed to the city of Montreal.

The interim CEO of the company, Michel Philibert, says bonuses were indeed paid out, saying they were part of what the employees were contractually entitled to.

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  1. Mike posted on 01/28/2014 06:43 PM
    What a bunch of greedy pigs. I hope that mayor Coderre goes after that money!
  2. clint posted on 01/28/2014 06:43 PM
    Nice matter what....WE get paid
  3. GT posted on 01/28/2014 07:00 PM
    Here is another example of the Quebecois way of doing business. Stick it to the taxpayers.
  4. steve posted on 01/29/2014 09:37 AM
    If the higher level of management are ripping off the tax payer,what kind of example do they set for the lower down employe.It is the culture of modern Quebec.Rip off all you can from the sucker taxpayer.What a disgrace.
  5. Chris posted on 01/29/2014 01:32 PM
    If the executives at Bixi who approved these bonuses knew or ought to have known that a filing of bankruptcy was imminent, then they may have violated the Bankruptcy and Insolvency Act as well as the Criminal Code of Canada. They should be investigated by the RCMP asap.
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