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Leon
Leon, Solicitor
Category: Australia Law
Satisfied Customers: 39125
Experience:  BEc Dip Ed, Dip Law (SAB) MTax (UNSW)
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Hi, I am worried that the company I work for is going to go

Resolved Question:

Hi, I am worried that the company I work for is going to go bankrupt with no notice,
and I may lose all of my entitlements,
being 15 years long service and 5 weeks annual leave owing etc.
Can you advise my best course of action.
regards XXXXX XXXXX
Submitted: 1 year ago.
Category: Australia Law
Expert:  Leon replied 1 year ago.
Good Evening

Thank you for your question. To Introduce myself I am a sydney based Solicitor and will do my best to provide you with relevant information to assist you.


What is it that makes you fear they are going to go bankrupt?

Is there any reason why you cannot ask for your LSL now and take it?
Customer: replied 1 year ago.

I received a letter by mistake from the real estate company who manages the property that we rent. They have put it on the market for re-leasing because of issues that we have not fulfilled in our contract.


 


I would prefer to resign and get full payments before the "proverbial" hits the fan.

Expert:  Leon replied 1 year ago.
Good Evening

You do not pay rent the company pays it for you and they are behind in the rent?

If you resign you will get all the money as a lump sum.

If they go into liquidation you will have to wait and you may be eligible to get your money through GEERS.

Their link is as follows:

http://deewr.gov.au/general-employee-entitlements-and-redundancy-scheme-geers

It is a government initiative. But you may have to wait and you have to be eligible.

If you resign do you think you can find another job?



Customer: replied 1 year ago.

I do not have any other options in my field at present - which is Print manufacturing. The industry is shrinking rapidly.


 


So, even if they go into liquidation, and they cannot pay their staff, there is a possibility to go to GEERS and get paid by the government?


Is there a chance to be paid out in full, if - for instance the creditors handling the liquidation give staff none of their entitlements?

Expert:  Leon replied 1 year ago.
Good Evening

GEERS will pay the entitlements. If you look at the website it is clear what they will pay and what you need to qualify for the payments.

Staff are usually the last to be paid after all creditors.

You would more than likely walk out with nothing if they go into liquidation.

It is not an easy decision. Are you able to get information from the employer on its financial Position? Have you questioned them about the letter you have received?
Customer: replied 1 year ago.

Thank you for your assistance. It has been most helpful.


 


I feel that the owners are beyond trust now. I manage this site (Perth),


and they operate a hub from QLD.


They have not even made me aware of this situation with the Real estate agent.


 


I will do as you say and investigate GEERS.


 

Expert:  Leon replied 1 year ago.
Good Evening

You are very welcome.

I am happy to have been of assistance.

I hope this is of assistance. If I have missed anything, or you have any further questions please let me know before leaving any feedback.

If I have assisted please do not forget to leave me with positive feedback.

Leon, Solicitor
Category: Australia Law
Satisfied Customers: 39125
Experience: BEc Dip Ed, Dip Law (SAB) MTax (UNSW)
Leon and other Australia Law Specialists are ready to help you

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