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My employer is going bankrupt! What are my rights?

June 06, 2024
employer bankrupt

Recently, fewer and fewer companies have been able to meet their payment obligations - bankruptcy is looming. It is therefore expected that a growing number of organizations will not survive financially this year. This inability to pay also has consequences for you, just think of your salary. Moreover, if your employer goes bankrupt, you will simply be left without a job. What rights do you have in such a situation? We will explain that to you.

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Bankruptcy

When your employer is in financial difficulty and can no longer pay its costs - including your wages - we speak of inability to pay. Sometimes there is permanent inability to pay. In such a case, your employer can file for bankruptcy. If your employer has two or more creditors, they can also file for bankruptcy with the court. You can also do this together with a colleague if you do not receive your wages and the employer has stopped paying.

Curator

If the court declares your employer bankrupt, it appoints a trustee who makes decisions about the company and tries to pay creditors. The trustee becomes, as it were, your new employer: he can terminate your contract or indicate that your employment will continue for the time being.

Contract is canceled

If the curator terminates your contract, he must adhere to the notice period: this is a maximum of six weeks, unless otherwise stipulated in your collective labor agreement or employment contract. You are entitled to your salary until the end of your contract. After that you can go to the UWV apply for bankruptcy payment. Please note: do this no later than one week after your employer has been declared bankrupt. The bankruptcy benefit amounts to a maximum of 150 percent of the maximum daily wage.

For example, the bankruptcy payment may include:

  • arrears of wages over a maximum of 13 weeks until the start of your notice period
  • your salary during the notice period
  • your holiday pay, outstanding holidays and pension premium over the last 12 months before your dismissal 

You can keep working

It is also possible that the bankruptcy trustee will continue your employment. Then you can continue to work and you retain your right to wages. You can of course resign yourself and discuss other options for termination of employment with the curator.

Learn more!

Find out more about (a possible) bankruptcy of your employer. Our experts have selected a number of interesting links for you.

Want to know more?

Do you have questions about bankruptcies? Or are you afraid that your employer will go bankrupt, and would you like insight into your situation and advice about what you can do best? Please contact us as soon as possible. Our Service Center is available every working day from 8.30 am to 17.00 pm via sc@unie.nl en 0345 851 963.

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