Friday, August 12, 2011
Insolvant company and owed wages?
Hi, I am a company secretary and if the company is insolvent and dissolved and still has not paid you your wages then it is unlikely that you will see them. If the company went into liquidation you would have been classed as a preferential creditor and should have received your wages at that point unless all the proceeds of liquidation were used up on fixed charges. Maybe they do intend to pay but it is very unusual they did not do before dissolution of the company, the court would not approve a dissolution until all creditors that could be paid were. You could try to sue the directors but it is very unlikely they would lift the corporate veil unless a breach of duty or fraud was carried out. Shareholders will have limited liability.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment