Employer Bankruptcy, Sale or Abandonment

Description
If your employer has filed for bankruptcy, it means that the business is no longer able to pay off its debts to its creditors, and the company has asked the court to help it either plan a repayment schedule (“Chapter 11” bankruptcy) or sell off all its property and use the money to pay off the creditors (“Chapter 7” bankruptcy).
Authored by
Legal Aid At Work
Energy Level
0
Was this page helpful?
Helpful