Business Bankruptcy Workers' wage recovey in a Chapter 11 bankrputcy filing?

[jyoon523]

A restaurant in New York is filing for Chapter 11 bankruptcy. Will the workers receive the wages that they are due just as other creditors would? What is the best way to ensure this?

If the restaurant had previously been failing to minimum wage and overtime, will this money owed also be paid to the workers?

It won't let me post a link but you can get a bit of a sense of the situation is you go to the Cornell Daily Sun website and search "Collegetown Eatery Shuts Down"

Thanks!

 

[army judge]

Employees usually get paid their wages.

That is the law.

Employees always get paid before anyone else gets a nickel.

EES ususally get all they are owed.

If there are any wage shortage or underpayment claims, they had better be made ASAP.

When companies get to this stage, they are hemorrhaging money.

They sometime have bled out and arrive in bankrutcy court, DOA.


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[bankrupcyus]

In most cases you will not lose your home or car during your bankruptcy case as long as your equity in the property is fully exempt.