Despite the fact that the Department of Justice has opposed it, and publishers (aka “creditors”) have cited it as a major reason they don’t think the company is worth working with (see the previous MobyLives report), the executive team for Borders has filed a motion with its bankruptcy court judge insisting that it really, really needs that $8.3 million in bonuses it wants to give its, er, executive team, before it turns to paying off the tens of millions of dollars it owes to its creditors.

In a story broken by Publishers Weekly yesterday, Jim Milliot reports that Borders reps told the judge that “quick action is needed because if retailers are to survive a Chapter 11, they must move quickly to emerge from the process.” They can’t do it without their current management team, said the Borders rep, whom “it would be impossible to replace.” (A Detroit News story says at least two unnamed v.p.’s have left the company this month, presumably never to be replaced.)

The filing, by the way, in its explanation of the bonuses, made some interesting revelations, such as the fact that current irreplaceable CEO Mike Edwards makes a base salary of $750,000, CFO Scott Henry $600,000, and CMO Michele Cloutier $500,000. All would stand to make huge bonuses under the proposal.

Okay, so the fact that executives of a bankrupt company who are nonetheless making huge salaries are asking for a bonus isn’t as stupid as, say, barking at a police dog. But it does make you wonder how intelligent their recovery plan could possible be.