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When Your Employer Becomes Insolvent...

 

If your employer becomes insolvent, unfortunately, the likelihood is that you will not have been paid all the money you are due.

 

However, rather than your having to wait to see whether the Insolvency Practitioner is able to make any payments after the realisation of the Company's assets, the Redundancy Payments Service (RPS) can make some payments from the National Insurance Fund to employees of the insolvent company.

 

The payments that the RPS is able to make are determined by the law.  Legislation states what debts to employees may be paid, to what period the debt relates and the maximum rate at which payments can be made.

 

Select a question below to get a brief explanation about the arrangements for making claims from the RPS.

 

 

The information that we provide here clearly cannot allow for every set of circumstances, and as such it should not be regarded as complete.  So, if you have any concerns regarding your personal entitlement, they should be discussed with the Insolvency Practitioner and, then, possibly, you may consider whether further advice is needed.

 

The RPS have prepared a fact sheet (which is available here) that offers further information regarding this subject.

 

 

For impartial, in-depth, one-to-one advice
contact us on 0161 438 8555 or

by email to info@jldllp.co.uk

 




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