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Free Legal Advice Philippines » FREE LEGAL ADVICE » LABOR AND EMPLOYMENT » Bankruptcy

Bankruptcy

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1Bankruptcy Empty Bankruptcy Wed Oct 12, 2011 10:12 am

mrdrop


Arresto Menor

Hi,

Need help, if a company declares bankruptcy so they can close the company and open new one under new management. What can we the employees can get? The company is 5 years and we are regular employees. Please advice.

Thanks

2Bankruptcy Empty Re: Bankruptcy Sat Oct 15, 2011 10:01 pm

attyLLL


moderator

if it's true that they will open a new one, then you can argue that you are entitled to separation pay or that you are being illegally dismissed.

https://www.facebook.com/BPOEmployeeAdvocate/

3Bankruptcy Empty Re: Bankruptcy Tue Oct 18, 2011 9:40 am

mrdrop


Arresto Menor

For separation pay, what are included just to be sure? and is it 15 days only per year of service? When I checked online I saw 30 days, please advice.

Thank you in advance.

4Bankruptcy Empty Re: Bankruptcy Wed Oct 19, 2011 8:12 pm

attyLLL


moderator

1 month pay or 1 month for every year of service, whichever is higher.

but it is also valid for you to agree to be employed by the new company if they continue your tenure of employment.

https://www.facebook.com/BPOEmployeeAdvocate/

5Bankruptcy Empty Re: Bankruptcy Fri Jan 23, 2015 5:46 pm

haiku


Arresto Menor

I saw this thread while I was searching for more information.

I would like to continue this thread by asking the following:
1. If a company would be filing for bankruptcy and opening a new one, are they required to offer us a continuation of our tenure? If that's the case, will we still receive separation pay?
2. If a company would be filing for bankruptcy, how soon should they have let us known about it?

Thank you!

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