Hi all,
I really hope you can help me out...
I have a contract with a comapny located in Singapore.
Unfortunately the company itself depends on foreign investors. As a
result the investors couldn't pay my company this month, we all
haven't received salary yet. Right now the salary is overdue for 8
long days and the management is still looking for a solution.
Anyway, I expect that the company will declare bankruptcy by the
end of the month.
So in case the company declares bankruptcy by the end of the
month, I hope you can answer me the follwoing 2 questions:
1. What will happen to the missing salary that has not been paid
before the company filed for bankruptcy. Any chance I will see at
least some of the money?
2. What do I have to expect for the salary that should have been
paid after they filed for bankruptcy? I read the following: The
amount payable under subsection (1)(b) and (c) shall not exceed an
amount that is equivalent to 5 months’ salary whether for time or
piecework in respect of services rendered by any employee to the
bankrupt or $7,500, whichever is the lesser. So I am a little
concerned the only have to pay me $7500 even if earned more,
right?!
Many thanks in advance.
Best regards,
Nosstradamus