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A company's bankruptcy filing does NOT automatically void their employment contract.Q. I was employed by a company for 2 and one-half years. I have an employment contract with the company that requires them to give me one months notice to terminate me. One day I recieved a memo notifying all employees that the company was filing for chapter 11 bankruptcy protection and that we would continue to be paid for the next two pay periods. I recieved a phone call from my employer the next day, notifying me that that day would in fact be my last paid day! Instead of my one-month's notice, I received same day notice. I did not have the opportunity to take the vacation days I was entitled to. I was not even given the extra paycheck that other employees were given! When I asked the HR department, what my rights were, I was told that the bankruptcy completely nullified the terms of my employment agreement. Do I have any rights? A. -You claim that your employer has given notice of bankruptcy. You have been fired. Your employment contract which required a one month notice has been breached. You need to file for unemployment and start looking for a job. The bankruptcy does
Other Questions: Client made off w/o paying for service A client of mine filed bankruptcy and closed his store. He currently owes me $125.00 plus about $4.00 interest for services I rendered to him. I've emailed and called him but no contact. The only way I found out about his bankruptcy was... Bankruptcy Law ChangesCould the 'Bankruptcy Law' changes have more to do with the decline in the averages than is commonly discussed?I doubt it, Bruno, although perfectly willing to listen to your explanation of the mechanism by which you think such a result coul... Cancellation of debt/bankruptcy .Taxpayer has basis in equipment of $6000. Debt owed on the equipment is $32,000. November of 2001 the bank takes the equipment (FMV of $50,000) for the loan, issues a 1099 cancellation of debt for the year 2001. In March of 2002 taxpayer ... Would capital gains push up my income tax bracketMy income is near a tax bracket border, and I am consider selling some assets for a capital gain. If the capital gain counted toward ordinary income, this would push me up a tax bracket. But now capital gains have their own tax rates.... PA State Income Tax ?Will be moving to PA this year and thought I would like to take my 2001 income and see how much tax I would have to pay PA if I lived there. Presently using TT but do not want to buy PA module for trying out. Does anyone know of a web site for ...
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