0
Do a company have to pay for hours worked if they file bankruptcy?
Wiki User
∙ 14y ago
Yes... sort of.
The employees are considered creditors of the company, so getting them paid is part of the bankruptcy proceedings. The bankruptcy court will determine which debts get paid and at what percentage. The basic rules are that secured debts (mortgages, for example) get paid first, but back wages are in the second tier of priority, and each employee gets a priority amount of around $10000 (the amount changes periodically; I'm not sure what the current amount is). If they're owed more than the priority amount, then the excess gets put further back in line, and may be paid at a lower rate (or not at all).
Wiki User
∙ 14y ago
Add your answer:
Earn +20 pts
Can you file bankruptcy if you have not worked in years?
Yes, employment is not a requirement to file a BK.
Did 84 Lumber Company file for bankruptcy?
NO
Did Ford Motor Company file for bankruptcy?
No.
If a credit card company sues you can you file bankruptcy?
Thier actions, or lack, do not effect your ability to file for bankruptcy.
Can a property management company file bankruptcy?
Sure.
You owe your sister money can you file bankruptcy on that loan?
If you file bankruptcy, you file bankruptcy on everything. You can not file bankruptcy on one loan.
Can you file a lawsuit against a franchise company that neglected to pay you for hours you worked?
Yes you can but see if they will give you the money that you are owed first.
If you file for personal bankruptcy can you still be the CEO of a publicly traded company?
Sure
Can a company file bankruptcy to get out of a settlement or lawsuit?
Yes. History is full of examples.
Can you com-bind tax id numbers of different company's into one to file bankruptcy?
You cannot combine tax id numbers of different companies into one, to file bankruptcy.
List of company in the Philippines that file for bankruptcy?
The list of companies their file bankruptcy in the country of Philippines can be obtained from the business oversight office in Manila. The list is compiled each year.
When did Willie Nelson file for bankruptcy protection?
Willie Nelson did NOT file bankruptcy. He worked out a deal with the IRS where he would give them part of the proceeds of an album. Between that and suing his accountants, he managed to pay the IRS without filing.
