Will I get my holiday pay if my company goes bankrupt

[BarbaraG]

California, but they are a Nevada Corp

 

[cbg]

My crystal ball says no.

Holiday pay is not required under the law of either Nevada or California (or, for that matter, any other state).

Now, if you'd like to post some details, MAYBE you'll get a different answer (but don't count on it).

 

[BarbaraG]

Details

They haven't filed bankruptcy yet that I know.
It was being sold and was going to be "re-structured"
The deal fell through and the old owner is back.
It is known that he doesn't have the money to pay the debt.
I think his only option is Bankruptcy.
I am concerned about money owed to me these last two weeks and my 401k and this vacaation pay.
If I quit my job before they file bankruptcy, would they have to pay me vacation time when I leave?
Also is there a way to find out if there is a bankruptcy in the works?
It is not Not a publicly traded company

 

[edantes]

Very unlikely....

Went through exactly the same experience....

I found the hard way that Nevada companies are optimal to ensure that
employees will get screwed as much as possible...(As the 'incorporation
mills will remind you...Nevada Companies ensure maximum protection...)

Plus if you have the misfortune of having to try to get your back pay out of the companies...you'll be faced with two options...
1. Your employer has not filed yet...you need to go through your State
Labor Dept...and the best they'll do is get you is a judgement against
the company...which in turn will likely see the company filing....


2. Your employer has filed...at which point...you are going to be treated
like any other creditor...and most likely won't get anything....


Good luck....