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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

Resolved Question:

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.
Submitted: 2 years ago.
Category: UK Bankruptcy Law
Expert:  UK-Justice replied 2 years ago.
Thanks for your question. Please remember to rate my answer SMILEY FACE OR ABOVE so that I am credited for my time.

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 2 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?

Expert:  UK-Justice replied 2 years ago.
No.

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


Please remember to click *** OK SERVICE *** or above so that I am credited for my time. The question does not close and you can ask follow ups.

Important: If you feel the need to rate as one of the lower two scores, it counts as negative feedback so please reply to me via the REPLY with any further questions you may have. I will be happy to assist you further.
Customer: replied 2 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

Expert:  UK-Justice replied 2 years ago.
Yes you are right.


Please remember to click *** OK SERVICE *** or above so that I am credited for my time. The question does not close and you can ask follow ups.

Important: If you feel the need to rate as one of the lower two scores, it counts as negative feedback so please reply to me via the REPLY with any further questions you may have. I will be happy to assist you further.
UK-Justice, Barrister
Satisfied Customers: 16193
Experience: Called to the Bar in 2007
UK-Justice and 2 other UK Bankruptcy Law Specialists are ready to help you
Expert:  UK-Justice replied 2 years ago.
I'm just following up with you to see how everything is going. Did my answer help?

UK-Justice

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