January 2019

Directors redundancy pay

16:51 15 January in Redundancy

Directors redundancy When a company goes into liquidation, it’s generally understood that employees are entitled to redundancy pay. But what about the company directors themselves? Ultimately it is their business that has failed, and their livelihood that has collapsed. Unbeknown to many directors, the government does provide...

Director redundancy

16:48 15 January in Redundancy

When a business fails, and cannot afford to pay redundancy money, employees can claim redundancy money from the National Insurance Fund (NIF) by making a claim to the Redundancy Payments Service (RPS). The issue becomes contentious when director shareholders claim: sometimes the RPS will argue...

Directors Redundancy

16:45 15 January in Redundancy

Are directors entitled to redundancy? When a limited company faces insolvency there is a strong likelihood that, unless an Administrator can make immediate changes to restructure the business and make it both profitable and saleable, it will close. The consequence for employees of both restructuring and...