How do you recover your wages if your company filed for bankruptcy? 4 Answers as of November 11, 2010The company I work for is filing for bankruptcy, and they say they cannot pay our wages for the last month (our pay schedule is really delayed). I need those wages, especially if I am going to be out of a job. How do I get them?
The Law Office of Mark J. Markus | Mark Markus
This depends on what chapter of bankruptcy the company filed and whether any assets are being liquidated for the benefit of creditors. If there are assets being distributed in their bankruptcy you should be notified to file a proof of claim and you will then be paid according to your priority if and share in the distribution if and when that is made. You're probably looking at least a couple of years before receiving anything.
Answer Applies to: California