Redundancy Delay ?

VaderW

Hi everyone,

The company I worked for went into voluntary liquidation and all staff were made redundant on 29/10/11. The company wound up on 9/12/11. We have all filled in forms for redundancy claims which have been handed onto the administrator.

Does anyone have any experience in this situation? We are all wondering how long it will take for redundancy payments to be made.

Thanks for your help.


VaderW

SarEl

I'm afraid that the answer is "as long as it takes". The RPS must ascertain that there are no company assets to claim the paymenst from before they can process any payments. It is often several weeks, sometimes more.

Johno100

SarEl wrote: »

I'm afraid that the answer is "as long as it takes". The RPS must ascertain that there are no company assets to claim the paymenst from before they can process any payments. It is often several weeks, sometimes more.

Afraid that is incorrect. The OP should normally receive his/her money within 4 to 6 weeks of the RPS receiving his/her form from the Liquidator. Christmas and New Year will slow this down a bit.

The RPS will make the payments to the employees from the National Insurance Fund, up to the prescribed limits, and then submit a claim in the Liquidation. That claim will be part preferential and part unsecured. If and when there are funds available in the Liquidation to make a distribution to creditors then the RPS will receive their share in the order of priorties laid down in the Insolvency Act.

VaderW

Thanks for your replies everyone, made our position a lot clearer.

VaderW