Can a company in bankruptcy, deny earned vacation pay to employees?
September 30th, 2009 | by admin |
Mark I asked:
The company that I work for has filed for bankruptcy (reorganization). They are telling us that they no longer have to honor our earned vacation pay, regardless of the years we have. Is this true?
The company that I work for has filed for bankruptcy (reorganization). They are telling us that they no longer have to honor our earned vacation pay, regardless of the years we have. Is this true?
By TedEx on Oct 1, 2009
Yes. It is no longer up to the company, it is up to the bankruptcy judge. Not a dime gets spent unless the judge approves.