U.S. Bankruptcy Court Judge Arthur B. Briskman, however, denied Earl's other request for $400,000 in consulting fees. Earl will also receive a car allowance, health and life insurance in a benefits package valued at a minimal $25,000 per year, lawyers following the bankruptcy case but not directly associated with it, tell Globe St.com.

"It makes you wonder, doesn't it, how a firm trying to reduce expenses is still able to pay its top man that amount of money," an Orlando bankruptcy lawyer not associated with the Chapter 11 filing tells GlobeSt.com on condition of anonymity.

Planet Hollywood continues to operate its 10 remaining company-owned restaurants on a court-approved debtor-in-possession status. That means the company must ask the judge for permission to pay all expenses and operational costs until it has completed it reorganization plan.