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Joseph, Lawyer
Category: California Employment Law
Satisfied Customers: 5299
Experience:  Extensive experience representing employees and management
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I was terminated from my employer (a Florida based company)

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I was terminated from my employer (a Florida based company) via a Termination Agreement that paid me 10 weeks of severance pay. However, the company filed Chapter 11 Bankruptcy recently before completing the 10 weeks. They did not complete their agreement, saying the Bankruptcy let them off the hook. What are my chances of getting some compensation by filing a claim with the Bankruptcy judge?
Hello and welcome to JustAnswer.

I'm very sorry to hear about your situation and hope I can help.

My goal is to provide you with excellent service today.

Unfortunately, without knowing the value of the liquidated assets from the company, it is impossible for me to give you even a remotely accurate assessment of the likelihood you would get some compensation from the bankruptcy judge by filing a claim.

However, since your claim is for severance (an employment agreement), you would be a priority creditor, meaning that if there are any assets left over from the bankruptcy proceeding, they would go to you (and other priority debtors) first before going to other creditors.

That said, it is definitely worthwhile to file a claim with the bankruptcy judge so you can obtain the remainder of your severance pay if there are enough assets left after the liquidation of your former employer's assets.

Since my goal is to provide you with the best service today, please let me know if you have any follow up questions or need any additional information.

If not, please remember to rate my answer positively so I get credit for my work!

Thanks and best of luck!
Joseph and other California Employment Law Specialists are ready to help you
Hello Michael,

Thank you for your positive rating of my service!

Please contact me on JustAnswer should you have any further legal issues.

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Thanks again and best of luck!