Payment of wages in case of bankruptcy of an organization is carried out in the second place. Employees have the right to expect to receive all delayed payments, as well as interest for delayed payment of wages.
The state provides increased protection of the interests of employees of those organizations that are at the final stage of bankruptcy (bankruptcy proceedings). After the bankruptcy estate is formed, the claims of employees are satisfied in the second place after the payment of remuneration to the bankruptcy administrator, incurring other expenses for bankruptcy procedures, as well as compensation for damage caused to the life and health of third parties (if there are relevant requirements). All other obligations, including payments under various civil law contracts, are carried out only after the completion of settlements with employees. In this case, the salary is paid in a calendar sequence.
What payments are employees entitled to in bankruptcy?
The legislation prescribes to transfer all due payments to the employees of the insolvent company in accordance with the Labor Code of the Russian Federation. In other words, workers can expect to receive wages, unpaid vacation pay, severance pay. In addition, if these payments are delayed, the designated management bodies of the company calculate and pay interest for the period of delay, which is also accounted for in the second order. Each payment due to employees is calculated depending on the date on which the employing company became obliged to issue the corresponding funds. That is why the only option for not receiving remuneration for labor and other related payments is a situation in which the insolvent company does not have enough funds even to satisfy the claims of second-priority creditors.
Whose payments can be limited when paying with employees?
Special conditions have been established for the payment of wages to the head of an insolvent company, as well as to his deputies, the chief accountant and a number of other employees holding managerial positions. In particular, when these persons are dismissed, their severance pay is limited to the amount established by labor legislation, and the excess part can be satisfied only after settlements with third-priority creditors. Also, the arbitration court may reduce the amount of remuneration for the work of these persons if they deliberately increased their salaries before filing a bankruptcy petition.
