QUESTION
Can I sue the board of trustees or the CFO for my unpaid retirement?
Asked on Nov 23rd, 2013 on Estate Planning - Nebraska
More details to this question:
I earned a bonus for years 1999 thru 2012. I have a signed agreement to be paid on my retirement. I retired in 2010 and was not paid now the company has filed for bankruptcy. Will I lose my money?
9 ANSWERS
Since it was a company obligation, your only relief probably is against the company and not its directors, unless they acted directly to no pay you. Speak to a consumer rights attorney or one who represents employees on wage and hour complaints to see what they think. If need to act before the Statute of Limitations of four years runs.
Answered on Dec 03rd, 2013 at 9:39 AM
2 Awards
Probably - if they are filing bankruptcy and you are listed as a creditor it is possible you will lose all or a portion of your bonuses. I suggest having an attorney review your paperwork.
Answered on Nov 27th, 2013 at 9:23 PM
3 Awards
You should meet with counsel to review your paperwork and proceed with filing a priority claim in the Bankruptcy.
Answered on Nov 27th, 2013 at 9:22 PM
Commercial Contracts Attorney serving Boise, ID
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Peters Law, PLLC
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Yes, you may very likely lose your money. Talk with a bankruptcy attorney where the case was filed to see if you might have a higher priority than other creditors.
Answered on Nov 27th, 2013 at 1:38 PM
Divorce Attorney serving Bingham Farms, MI
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Gottlieb & Goren, P.C.
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You need to sort out whether the company filed under chapter 7 (liquidation) or 11 (reorganization) that may still protect your pension. Your pension may also be protected by a government agency. Short answer: You need an attorney to evaluate your options, which probably do not include suit against the board of trustees or the CFO.
Answered on Nov 27th, 2013 at 1:38 PM
Business Planning Attorney serving Livonia, MI
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Frederick & Frederick Attorneys at Law
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Some pension funds are protected under Federal law. You need to investigate further and seek legal counsel.
Answered on Nov 27th, 2013 at 1:37 PM
Taxation Law Attorney serving Glendale, CA
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Irsfeld, Irsfeld & Younger LLP
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File a claim in the bankruptcy and consult a lawyer.
Answered on Nov 27th, 2013 at 1:20 PM
Trusts Attorney serving Sacramento, CA
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Law Office of Victor Waid
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You need to seek the services of a creditor's lawyer who specializes in bankruptcy litigation; you may or may not have a claim for your retirement.
Answered on Nov 27th, 2013 at 1:16 PM
Bankruptcy law will determine the priority of who gets paid from any assets the company may have. Talk to an attorney who specializes in bankruptcy to find out how you can fight for your money.
Answered on Nov 26th, 2013 at 7:31 AM