Chapter 7

[sac61871]

Recently I was laid off, due to the unfortunate fact that my company filed for Chapter 7. Is the employer still required to pay me for vacation I have not used?

Thanks,

Steph

 

[buddy2bear]

When a Company goes bankrupt, they pay as follows and in this order from any money and/or assets:

Government Taxes
Lawyers
Secured creditors
Unsecured creditors (maybe)
Payroll

Unfortunately, the rank-and-file employees are the ones who get screwed.