Employee rights company liquidating

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The court has the power to extend the time to appeal.

If you don’t appeal within this time, the liquidator’s decision on your claim is final.

If the liquidator continues to trade the business for a short period to help in the winding up, employee entitlements accruing during this period (on terms agreed with the liquidator) are paid out of available assets as a cost of the winding up and before other outstanding employee entitlements.The liquidator may be able to tell you what the company records state is owed to you.However, as the records of a company in liquidation are often not well maintained, it is important that you keep your pay records or other records of the terms of your employment.The purpose of liquidation of an insolvent company is to have an independent and suitably qualified person (the liquidator) take control of the company so that its affairs can be wound up in an orderly and fair way for the benefit of creditors.There are two types of insolvent liquidation: In a court liquidation, a liquidator is appointed by the court to wind up a company following an application (usually by a creditor).

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