In the event of bankruptcy, many parties are queuing up to get their money back. But did you know that employees have a special position? As an employee, you are a preferred creditor. What that means and how you can claim your rights, you can read in this blog.
What does it mean to be a preferred creditor?
When a company goes bankrupt, its creditors are ranked in a certain order. Employees are relatively high on this list, thanks to their status as a preferred creditor. This means that your outstanding wages and other employment benefits take priority over most other creditors, such as suppliers. This preference is set by law to ensure that employees are not left empty-handed in the event of bankruptcy.
Wage claims and other payments
If your employer goes bankrupt, you may be faced with the following outstanding claims:
- Back wages: Salary that you have not yet received.
- Holiday pay and days: This includes both accrued and unpaid holiday pay and unused holiday days.
The UWV (Employee Insurance Agency) offers a safety net in this case. They will take over part of your outstanding wages, such as:
- The UWV will take over a maximum of 13 weeks of continued payment of wages when the employer has stopped paying wages. The wages over the statutory notice period (6 weeks in the event of bankruptcy) are also paid by the UWV.
- The UWV only pays out holiday pay, accrued but unused holiday days and pension premium (all three up to a maximum of 12 months back).
More information about the "benefit due to inability to pay" can be found on the website of the UWV.
How do you claim your rights from the trustee?
After a bankruptcy, a trustee is appointed. This person manages the assets of the bankrupt company and ensures the settlement. As an employee, it is important that you report to the trustee in time. Here are some steps you can take:
- Identify the curator
The court appoints a trustee after the bankruptcy has been declared. You can find out who this is via the Chamber of Commerce. - Report your claim in writing
Send a letter or email to the trustee stating the amount you are still owed. Add evidence, such as pay slips and your employment contract. - Wait for further instructions
The trustee determines the order of creditors and processes your claim. It may take some time before you get clarity about a possible payment.
What if you don't get everything back?
Unfortunately, there is no guarantee that you will receive all the money you are entitled to. If the bankrupt company has insufficient assets, it is possible that only part of your claim will be paid. However, you can still count on the UWV for a safety net, as described above. Make sure you act quickly to apply for this compensation.
De Unie is ready for you
In the event of bankruptcy, as an employee you are often faced with complex situations. De Unie helps you with legal support, advice and drawing up your claims. Our experts are ready to safeguard your rights together with you. Do you have questions about your situation? Contact our Service Center via sc@unie.nl or call 0345 851 963. You can reach us on workdays between 8:30 and 17:00. Do you want to become a member and benefit from all the advantages? Become a member now and be stronger in your work!
