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Company Change And Vacation Pay

Discuss the legalities of Bankruptcy Law

Company Change And Vacation Pay

Postby Mitchel » Sun Nov 27, 2016 1:46 am

Throughout this year the company i work for has gone through some major changes.  Our Parent company went into Chapter 11 bankruptcy and as part of an agreement sold of the company to his debtors.  The debtors created a new company to run and manage the TV station I work for. For almost 8 months the TV station was in a state of limbo as the original company had sold numerous assets to the debtor, yet the FCC was delaying the transfer of license so the Debtors put on what was needed for the station to run.  Once the license was transferred the debtors then merged companies with one of our competitors.  This merger looks like many people at my station will be laid-off in the upcoming weeks as productions is being transferred to the competitor. My question is when we get laid-off, i have accumulated 80+ hours of both sick and vacation pay.  When the debtors took over they claimed that bankruptcy laws voided the accumulated pay, but they where going to pick it up where it was, so we are not the casualty of the sale.  Now that the merger happened they have said they are not paying the accumulated time because the bankruptcy voided it. Is this legal to say something and then do another?  The merger still has the debtors own the company so shouldn't they be responsible for the vacation pay they claimed to pick up?
Mitchel
 
Posts: 46
Joined: Mon Jan 13, 2014 1:33 am

Company Change And Vacation Pay

Postby Bromleigh » Tue Nov 29, 2016 9:12 pm

Vacation is not a mandatory payment, it is a fringe benefit given by the company. If a company goes bankrupt the newly formed company cannot be made to pay the vacation pay, there is no law that will force them to do this.

If you have a written and signed contract saying they will pay you the vacation pay you may be able to go to court to get it, but otherwise it is not going to be paid.

Shirley
Bromleigh
 
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Joined: Thu Jan 02, 2014 12:52 am

Company Change And Vacation Pay

Postby Sewald » Sun Dec 04, 2016 10:02 pm

Throughout this year the company i work for has gone through some major changes.  Our Parent company went into Chapter 11 bankruptcy and as part of an agreement sold of the company to his debtors.  The debtors created a new company to run and manage the TV station I work for. For almost 8 months the TV station was in a state of limbo as the original company had sold numerous assets to the debtor, yet the FCC was delaying the transfer of license so the Debtors put on what was needed for the station to run.  Once the license was transferred the debtors then merged companies with one of our competitors.  This merger looks like many people at my station will be laid-off in the upcoming weeks as productions is being transferred to the competitor. My question is when we get laid-off, i have accumulated 80+ hours of both sick and vacation pay.  When the debtors took over they claimed that bankruptcy laws voided the accumulated pay, but they where going to pick it up where it was, so we are not the casualty of the sale.  Now that the merger happened they have said they are not paying the accumulated time because the bankruptcy voided it. Is this legal to say something and then do another?  The merger still has the debtors own the company so shouldn't they be responsible for the vacation pay they claimed to pick up?
Sewald
 
Posts: 36
Joined: Sun Feb 23, 2014 8:18 pm


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