The bankruptcy court in Massachusetts that is handling the auction of Malden Mills has set Feb. 20 as the date for a decision on its future ownership. It will accept bids from Feb. 15, but they must be higher than the $44 million offered by the newest “stalking horse, “ Pipeline MMI, a subsidiary of a large investment company in the states called Chrysalis Capital Partners. Bidders also have to submit in as much detail as possible their intentions for the company’s employees after it has been bought. Meanwhile, Malden has decided to throw out an incentive plan crafted to reward five of the company’s executives with retention bonuses of nearly $1 million, responding to criticism from the bankruptcy court and some of the company’s creditors.