Been told the administrators are coming in next week and we are not being paid for the 4 weeks we have just done! Although there is enough money in the pot to pay the employee wages . Has anyone any advice as what i should do or go about things to recoup wages owed! Its maybe not a good idea but i also live 250 mls from my depot and have 1 of the motors home with me. Should i hide it till im paid? Help !!!
transporter:
Been told the administrators are coming in next week and we are not being paid for the 4 weeks we have just done! Although there is enough money in the pot to pay the employee wages . Has anyone any advice as what i should do or go about things to recoup wages owed! Its maybe not a good idea but i also live 250 mls from my depot and have a motor home with me. Should i hide it till im paid? Help !!!![]()
Surely the idea of the administrator is to work out whether the company is solvent, viable or saleable. It is them who decide who gets paid and employees are a preferred creditor.
An administrator’s primary goal is to rescue the company as a going concern. If this isn’t possible, the administrator will try to get a better result for the creditors than would be possible if the company was wound up.
If neither of these is possible, the administrator will sell the company’s property to make at least a partial payment to one or more secured or preferential creditors, such as employees or the bank.
I hope there is a bit left for you.
Fill up a lot of diesel for your motorhome and drums to the equivelant of 4 weeks wages on yor companies fuel card
Yes thanks for that scottish cruiser I have done that before when i was done over but this time i dont have enough drums
i think youll end up like us ,part of the stobart family
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I don’t know whether the law is still the same but it used to be that the first people to be paid in full from any assetts are the employees (wages)
I was under the impression that employees took second priority. The first being theTtreasury, unless it’s a Football Club.
Krankee:
I was under the impression that employees took second priority. The first being theTtreasury, unless it’s a Football Club.
I think that is still the case. Oh, and politicians are exempt from any laws.
The first to get paid are the administrators/receivers! Then HMRC etc.
Usually there is nothing left for anyone after the administrators/receivers have had their cut! Well thats my experience anyway. One of my customers won damages of over two million pounds from a cancelled contract which forced them out of business, and as yet I have not seen a penny, and this was 15 years ago. Some of the bills/expenses from the receivers have got to be seen to be believed - most of the 2 million has gone already!