19 ms·
It sucks but if there is literally no money left then the company is simply not able to fulfill its obligations. Like if pay is owed where will that money come
by gaius 8y ago
It sucks but if there is literally no money left then the company is simply not able to fulfill its obligations. Like if pay is owed where will that money come from?
I don’t excuse management for a second; they must have known the coffers were bare while they were still hiring.
- Insanity 8y agoIf I'm not mistaken, here in Belgium first the assets of the company are sold off and from that money, first the employees are paid out their contracts. After that the money goes to other instances (like the loan by the bank etc). EDIT: They are paid out their outstanding wage for their performed work, not to the end of their contracts
- cf141q5325 8y agoIt is a criminal offense in Germany to not file for insolvency in time.
- ant6n 8y agoIn Quebec, administrators are personally liable for owed wages.