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by virtue of the financial tool called "bankruptcy" it is meant that you need protection from all creditors and those liabilities of your business. It's probably one of the reasons that the company needs help. Technically you could hire counsel to force your rights as employees but I can tell you this......in terms of fallout and who's gonna get their money first, employees are low on the totem pole. All the other creditors will have their claims satisfied first, read more about Enron- they are going through the same thing.

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โˆ™ 2005-12-21 19:39:48
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Q: Does a corporation filing bankruptcy have an obligation to pay accrued vacation to employees?
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Related questions

Do employees get paid vacation time in chapter 11 bankruptcy?

Do employees get paid vacation time after a chapter 11 bankrupcy?


Do employees get paid vacation time in chapter 13 bankruptcy?

Chapter 13 should not affect your vacation time. In fact, it probably falls under the employment non-discrimination clause of the Bankruptcy Code, which prohibits current & potential employers from taking any action against you due to bankruptcy. If your vacation is paid as part of your regular pay, your withholding should continue just as if you were working. If you get a separate check for the vacation, discuss it with your trustee--especially if it's paid out like a bonus.


What are the regulations on bank employees vacation leave?

Bank employees are entitled to vacation leave that is part of the job. There is not a certain amount of vacation that they have to be given.


Do temporary employees have a right to vacation?

In the US, no employee has the right to paid vacation.


Does a employer have to pay you earned vacation time?

I would say that an Employer does have to pay their Employees earned vacation time or at least they should, ir's only fair that an Employer does that for their Employees.


Can you keep a vacation home in bankruptcy?

Many states have passed laws that protect the primary residence only. You need to consult with an attorney who specializes in bankruptcy.


Which motivation theory do you think would help communicate the importance of vacation time to your employees?

give them paid vacation


Can employer use vacation time without employees permission?

no


Are employees owed vacation pay after quitting?

In the USA, normally employees in the private sector do not receive unused vacation pay when they resign or are fired. In the public sector, however, it is commonplace for public employees to receive pay for unused vacation pay. If a union is involved, then this issue will be found in the Union's agreement with the employees company or department. In many US States, even a resigning city school superintendent will receive pay for unused vacation days and even unused sick days.


Do employees have a right to their earned vacation leave?

Generally speaking: yes. But many countries allow company rules that say you must use up your vacation days for a given year in that calender year itself or within 3 months after the end of the calender year. After that, you may simply forfeit the right to the days not used up by then. In many countries companies also are under no obligation to pay out your unused vacation days.


How do you welcome employees back from vacation?

You could say "Welcome back".


Did tweeter file for bankruptcy?

Yes, Tweeter electronics filed for bankruptcy twice. The first time they were bailed out by SAMCO (schultze asset management), and then Schultze declared them bankrupty 10/08. Customers who put down deposits got their deposits confiscated. Employees lost final paychecks and vacation time and warranties were sold, but not honored until the courts stepped in.


Do government employees have permission to vacation abroad?

Most government employees don't need anybody's permission to go abroad on vacations.


How long do you need to keep vacation request forms from employees?

For the term of their employment.


What was the first person to provide employees with paid sick and vacation time as well as a five-day work week?

who was the first person to provide employees with paid sick and vacation time as well as a five-day work week.


How much vacation does a lawyer get in a year?

In the US, there are no laws for employers to mandate vacation time off for employees, however many do offer paid vacations. Vacation time is determined by the company you work for.


Do computer programmers get vacation time?

Well, of course. There is no reason why they should be treated differently than other employees. Also, in many countries there are laws that specify that employees should have, at the least, a certain amount of vacation time every year.


Do Dolphin trainers get vacation days?

Dolphin trainers do indeed get vacation days. These trainers are paid employees and are entitled to have rights like normal workers.


Where does the president go on vacation?

The President goes on vacation because he needs a break from his job. Most full time jobs provide employees with vacations.


How much vacation time should employees receive?

At least four weeks a year.


Are part time employees entitled to unpaid vacation?

that depends on who you are working for and how long you worked there


If a company provides one and one-fourth vacation days to its employees every month how many vacation days does an employee get every year?

3 days


Will your vacation time be paid if your company goes bankrupt?

This will be a case by case basis. Your vacation time may be paid if the company is reorganizing after bankruptcy. However, there is no guarantee, especially if the company is closing its doors.


Can you still keep your vacation home if you file bankruptcy if there is no equity?

In a chapter 7, yes, you can keep your vacation if you have no equity in it. This assumes you have not run out and borrowed money against it knowing you were going to file bankruptcy. In a chapter 13, the equity is only relevant to the amount to be paid to the unsecured creditors. You don't "lose" the property.


Does an employer have to pay out vacation when an employee is fired?

No! Vacation and anytime off is not required by law. That said, if an employer pay out vacation for one employer, by best practice, they should pay out to all employees. If not, it may be considered discrimination.