Insolvency - Holiday Pay

MUMSTHEWORD279

I am in the middle of being made redundant (31st Oct) as my firm are now insolvent, we are currently under consultants and our HR dept have told some staff who have already taken their holiday entitlement for the year that they will owe money back?  Is this even possible we have already lost out to only get statutory redundancy, our bonuses and shares.  Advice would be appreciated.

MyRealNameToo

MUMSTHEWORD279 said:

I am in the middle of being made redundant (31st Oct) as my firm are now insolvent, we are currently under consultants and our HR dept have told some staff who have already taken their holiday entitlement for the year that they will owe money back?  Is this even possible we have already lost out to only get statutory redundancy, our bonuses and shares.  Advice would be appreciated.

if you get 30 days leave a year, have already taken 30 days holiday by the end of month 9 and then leave then you will will owe them for those 7.5 days you took but hadnt earned. 

Statutory redundancy will be paid, bonuses are always discretionary and if the firm has failed ultimately something somewhere went wrong. Shares you'll be like all the other shareholders, entitled to a small amount once everyone else has been paid out from what the administrators can raise from the sale of what's left of the business and its assets.