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UK-Justice
UK-Justice, Barrister
Category: UK Bankruptcy Law
Satisfied Customers: 16193
Experience:  Called to the Bar in 2007
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Several weeks prior to our bankruptcy, we had to make three

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Several weeks prior to our bankruptcy, we had to make three staff redundant, retaining the other five, due to a sudden downturn in turnover. However, due to this downturn we have been unable to pay all of the redundancy due. Where do we stand on this now that we have been made bankrupt(we traded as a partnership). Please note that prior to bankruptcy another party bought some of the assets of the business and continued trading as another company (limited) - a company with which I am employed.
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If you have been made bankrupt then any assets belong to the official receiver.

The employees can make a claim Via the Insolvency service.

If you have been made bankrupt and employees are made redundant then they can make a clam there.

I hope this helps.


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Customer: replied 4 years ago.


I understand what you say but part of the business has been bought and continues to trade currently - is there a 'continuous employment' situation should the new business need to make any redundancies?

No.

If you went bankrupt then any liability to the employees would cease on this day,


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Customer: replied 4 years ago.


I appreciate that side of it but I now work for the company that bought one side of the business before we went bankrupt and so continued to trade. We are now assessing whether we need to adjust staff levels. I assume that their time with us will be considered as continuous employment. Am I right?


 


Regards

Yes you are right.


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