when a company goes bust

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geeman

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so then guys i have worked as a subbie for a firm for the last 12 years .i get back today and they lay everyone off no pay and no notice,i was wondering if anyone knows how i can get the money they owe me,and if i have any rights at all.
 
the company will go in to liquidation mate.ull probably have to register your intrest with the liquidators and then when they sell everything off you will get last pickings on what ever money is left after bank and other company's get paid. to be onest dont count on getting much in a legal battle
 
Sorry to hear that geeman iam pretty sure the tax man and the VAT man get their cut first and if anything is left you might be in with a chance
 
Phil is right, vat man then the tax man, if you were an employee you would get paid out through your NI contributions and wouldn't loose a penny but as a subbie you will almost certainly get nothing, sorry.
 
If Youve Been Subbie To The Same Company For 12 Years You Have The Same Rights As The Paye Scaffolders, Im Pretty Sure You Are Not Regarded As A Subbie By The Tax Man If You Are Continuously Employed By The Same Company For Six Months,And Have The Same Entitlement As Every Other Employee.
 
I thought you haven't been allowed to do that since the abolition of the old 714?
 
When a company goes bust: You'll be VERY VERY lucky to get a penny back... its all down to the liquidators and what they feel are more important debts to settle fist, i suppose.

Hopefully, fingers crossed - you'll get your money back.
 
Depends on what sort of a subbie you are Gerscaff , i used to have 10 lads on different firms as a labour only subbie , we worked for 3-4 firms at one time .
 
just found out they havnt gone bust they just decided to close due to no money coming in
 
Next Question Geeman, Do They Have Enough Money In The Bank To Pay You?
 
have they still got any jobs up if so lend a van and take the gear or u will get fack all mate or take it out of the yard
 
To add my two penny worth, I am owed £4.6k from a Norwich based firm that went bust 3+ years ago. The administrators, now the liquidators have been sorting out the accounts (and clocking up a fine bill too boot). As the years have turned it has gone from 'you'll all get your back pay' to 'slim chance lads'. Lodge your claim with whoever is dealing with it then move on as quickly as possible.
 
If they just shut up shop,without going into adminastration,then you still want paying,any works that have been completed will mean that the payments will trickle in to them,send them a written demand for payment within 7 days,or you,ll take legal action to recover your money,if they still dont pay you then you will need to proceed down that route,good luck;)
 
Scaffy - Joining Faber was the worst move I have ever made, Nice people - just the wrong time.
 
Mike Hole now going as Hole Plant ???
To much gear on finance was what i was told by generation reps ,shame really as the firm was getting quiet big , i see theauction book for all that cuplock
 
Scaffy - The Auction raised some £135k in material sales. Interesting to note the manifest's showed little amounts of tube over 18' and hardly any 13' boards. This was a predominantly Traditional T&F company. I note from the April 2012 administrators report that they mentioned Hole Plant as now being in Liquidation, I believe that Mike has continued with the name 'Faber Offshore Ltd' (though I am not definite on this). Over-financing to expand was the killer punch. With the onset of the 2008/9 banking problems the funding company (Liquidity) just called back their money leaving nothing to run the day to day business.
 
Come come there was loads of short boards in that auction ha ha

Thought fabers powered access division caused problems too , but as you say finance was the killer for expansion , i believe that generation arranged the finance ha

Didnt a load of you guys go to renee fieldcrown ?

What happened to Reg ?
 
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