severance contract, and bankruptcy
My company is about to file chapter 11 bankruptcy. In addition it looks as though it will be bought by a competitor. I have a contract stating a severance package of 4 months pay. Will this contract still be enforcable if they file bankruptcy?
1 answer | asked Aug 29, 2003 9:58 PM [EST] | applies to Maryland
Answers (1)
Depends
Chapter 11 is a liquidation. Depending on how many creditors, the level of their claim on the company and the amount of assets, you could still get some of what you are owed. 1-800-DISCRIMINATION.
posted by Michael Snider | Aug 31, 2003 1:12 PM [EST]
Chapter 11 is a liquidation. Depending on how many creditors, the level of their claim on the company and the amount of assets, you could still get some of what you are owed. 1-800-DISCRIMINATION.
posted by Michael Snider | Aug 31, 2003 1:12 PM [EST]
Answer This Question
Sign In to Answer this Question
Related Questions with Answers