CONTRACT SIGNING and DISTRIBUTION OF QUIT CLAIM

I appreciate that we have this kind of site. My personnels were raising questions and being on a medical field, I have no expertise on this field.
The buy-out of our current company will be on Jan. 19, 2013 and HR head instructed us to be at the main office on the said date for contract signing and distribution of quit claim. Do we have to be cautious before signing the contracts and the latter? Rumors come up from other branches that we should not sign unless we receive the severance pay which is not yet even mentioned by the reliable sources that we will be receiving such. In case, we will, is the rumor be rational? Needing your expertise guys!

For security purposes, it must be made "kaliwaan", that is, you must receive first the severance pay before you sign the quit claim. Otherwise the quit claim that youve signed can or may be used as an evidence later on, evidencing that the company is relieved from any liability inlcluding the severance pay.

Some company do this, because they dont want to pay the severance pay, until the company is dissolve, and it is now your responsibility to find,locate and claim from them.

I based it on my experience with SOME company until they settled it before commencing a court litigation.

ask to be able to review the contracts before hand