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Jumping ship

  • 30-10-2011 2:50am
    #1
    monkey8
    Registered Users Posts: 386 ✭✭


    I started a new job in July. It's a start up company that are struggling a bit now. They don't pay us on time (a few days late) keep changing Suppliers and not paying them, asked some employees to take temporary voluntary pay cut etc etc

    I'm loping to jump ship. I signed a one year contract and need to give 4 weeks notice.

    They have such a bad record of not paying Suppliers etc I would be afraid that they wouldn't pay me my last months wages. Where would I stand if they did that?


Comments

  • #2
    Le King
    Closed Accounts Posts: 5,092 ✭✭✭Le King


    monkey8 wrote: »
    I started a new job in July. It's a start up company that are struggling a bit now. They don't pay us on time (a few days late) keep changing Suppliers and not paying them, asked some employees to take temporary voluntary pay cut etc etc

    I'm loping to jump ship. I signed a one year contract and need to give 4 weeks notice.

    They have such a bad record of not paying Suppliers etc I would be afraid that they wouldn't pay me my last months wages. Where would I stand if they did that?

    They would have to pay you. If the company went into liquidation you would be a secured debt. Regardless, they will have to pay you.


  • #3
    Milk & Honey
    Banned (with Prison Access) Posts: 1,950 ✭✭✭Milk & Honey


    Le King wrote: »
    They would have to pay you. If the company went into liquidation you would be a secured debt. Regardless, they will have to pay you.

    This would not be a secured debt, it would be a preferential debt. It would only be paid after all higher priority debts had been paid. Any remaining available money would be divided amongst that whole class of creditors.
    A walk out immediately after getting paid is the only sure way of avoiding not being paid for the last month.


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