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    If a person has worked for a company for 28 years, the last 15 in senior managment, and the company declares bankruptcy, is it the law they have to pay severence to this employee?

    Question #74186. Asked by J.Singleton. (Jan 05 07 8:56 AM)


    Baloo55th

    		This would depend on which country you are in for a start. Company law differs round the world, and we cover a large part of the world here. Apart from which, if the company is in bankruptcy, they may not be in any position to pay anything anyway. Here in the UK, redundancy might come in somsidering the time served. Being in senior management would not have any relevance here, so far as I know. Senior company figures only get different treatment when it comes to things like share options and pensions, which are internal company matters. In law, an employee is an employee.

    Jan 05 07, 9:07 AM
    J.Singleton

    		We are talking an American based company located in Canada.

    Jan 05 07, 9:27 AM
    lanfranco

    		Someone in this situation needs to consult an attorney who specializes in employment issues. We can't give you chapter and verse on the relevant laws, if any, here.

    Jan 05 07, 9:34 AM
    skysmom65

    		I don't know the law but I have a friend in this exact situation and he will be recieving severence pay.

    Jan 05 07, 9:50 AM
    zbeckabee

    		SEE:

    A. Status of Unpaid Wages under the Current Canadian Bankruptcy Regime


    http://dsp-psd.pwgsc.gc.ca/Collection-R/LoPBdP/BP/prb0134-e.htm#A. Status%20of%20Unpaid%20Wages%20under%20the%20Current%20Canadian%20Bankruptcy%20Regime(txt)

    Jan 05 07, 10:28 AM

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