Sunday, April 3, 2011

If a small business becomes liquidated, how does this affect its employees? -

Do they get payed...?

Liquidated usually means bankrupt . The employees get in line to get some money. It is up to the judge. Usually the secured creditors get paid first. Those are the people who loaned money to the business and got an IOU or mortgage. You are an unsecured creditor. There is a strong chance that you will get nothing.

PAID. Maybe, depending on how much money the assets bring in.

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