company i worked for in liquidation what i can expect to get

[paul001]

Hi all,

Trying to find out where i can some advice from and looking on the net just confusing me so far!

I worked for a company for 7 years that last week went into liquidation. I am owed about £5.5K salary this month but know I am not likely at all to get anywhere near this. Does anyone know what i am likely to be able to get as I know a certain amount is payable via government etc but I am not sure if i am also entitled to any government funded redundancy etc?

[jamesuk28]

As far as I understood it, employees come fairly high up the creditor list. You should be able to claim for holiday pay as well as wages, I think its worked out on length of service.

I am not an expert in this and in fact may be talking a load of bollox, so I would wait fro an IP or Eric to pop up.

[rich1231]

"Crown2 will get money before all else.

[wattsm666]

Crown are not preferential anymore.

[smartie]

isn't there some kind of compensation scheme for redundancy pay of employer cant pay? Don't think it's a quick service though!

Liquidators will probably take amything left so I wouldn't hold your breath!

[edb49]

You can get £300ish a week from HMRC if the company isn't able to pay you.

[GreenV8S]

The government will pay you what you're owed for salary, payment in lieu of notice, holiday pay etc. However, this is capped at quite a low level and you will have to claim the balance from the liquidator. I understand that one of the reasons this scheme exists is to help you stay afloat while the liquidator sorts things out, so the payout should be quite prompt (weeks rather than months). You will also be told that you should sign on (if you haven't already) as they will subtract the amount of UB you're entitled to from what they pay you even if you don't claim it.

[Iain_M]

GreenV8S said:

The government will pay you what you're owed for salary, payment in lieu of notice, holiday pay etc. However, this is capped at quite a low level

Slightly different as I was made redundant and the company hasn't (yet) gone into liquidation, bit I didn't get holiday pay, so would be surprised if the gov paid holiday pay to you.

[Timja]

Look here: http://www.insolvency.gov.uk/