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  1. Join Date
    Oct 2002
    Posts
    2,716
    #1
    I have a friend who works for a publishing firm and they were told that their company is going bankcrupt and they will not get any severance (?) pay/benefits because of the bankruptcy. Dahil wala na nga pera eh.

    But.... the owner of the said publishing firm owns several companies and the publishing firm is just one of them. The other companies are doing well financially except for this particular publishing firm.

    Ang sabi ng friend ko, wala daw sila makukuha benefits because the publishing firm is going bankrupt nga.

    Ang argument/question naman ng friend ko, tama ba na wala silang makukuhang benefits even though yung ibang kumpanya ng boss nila eh financially capable naman of paying their severance pay/benefits (I don't know if severance is the correct term).

    Sensya na kung medyo magulo.

    Ano po opinyon nyo dito sa sitwasyon na ito?

    thanks

  2. Join Date
    Jan 2005
    Posts
    4,866
    #2
    hmmm. interesting. but i think your boss might counter with "ang pera ni juan ay kay juan, at ang kay pedro ay kay pedro" argument...

  3. Join Date
    Dec 2005
    Posts
    39,055
    #3
    AFAIK, a corporation is considered an entity. So, its capacity to pay is limited only to itself.... Sad state of affairs....

    :starwars:

  4. Join Date
    Oct 2002
    Posts
    509
    #4
    The publishing firm should have a number of available assets (machinery, equipment, land/building, vehicles, etc) which they can liquidate and use as payment for the employee's severance pay (assuming walang utang sa banko or hindi naka-mortgage ung mga assets ng publishing firm).

  5. Join Date
    Oct 2002
    Posts
    9,894
    #5
    di ako expert sa philippine laws on incorporation, so maybe one of our tsikot attorneys can correct any misinformation...

    but most countries limit liability to the assets of the corporation (assuming it is incorporated), so you couldn't go after the owner's assets. if the publishing company is part of a conglomerate with the other businesses (kind of like how Disney has ABC, ESPN, Pixar, etc), then the entire entity is liable for the liquidated business's debts.

    also, when a company is liquidated, the cash raised is used to pay creditors first (which would include outstanding salaries payable), and shareholders second. however, the company policy or employee benefits agreement should clearly state beforehand how much, if any, employees are entitled in severance if laid off. if it's not, then the employer can grant severance at its discretion, which could mean it decides to give zero severance.

  6. Join Date
    Nov 2005
    Posts
    39,210
    #6
    employees tend to think that way. They see the owner and the company as one and the same.

    dito sa atin, pag bumili ng bagong sasakyan ang amo, bubulong ang mga empleyado "si sir kaya bumili ng bagong sasakayan pero hindi kaya taasan ang sweldo natin"

    sentiments like that are pressure-cooked and next thing u know meron na full-blown labor strike.

  7. Join Date
    Aug 2003
    Posts
    3,274
    #7
    di pwede kunin sa ibang company yung money kahit same lang ang owner.

  8. Join Date
    Aug 2004
    Posts
    22,710
    #8
    I don't think they can count the boss's other assets... sadly... and yes, creditors first, in this case.

    Too bad for your friend... which publishing firm?

    Ang pagbalik ng comeback...

  9. Join Date
    Oct 2002
    Posts
    15,525
    #9
    Quote Originally Posted by roninblade View Post
    di pwede kunin sa ibang company yung money kahit same lang ang owner.

    yup. ganyan nangyari sa mga yuchengco nung pabagsak na Pacific Plans.... considering may profit ang RCBC and Grepalife, pero di nila makuha.... separate entity ika nga...

  10. Join Date
    Oct 2002
    Posts
    20,215
    #10
    how about kung single proprietorship yung establishment? pwede bang ipa-freeze yung assets ng owner sa case na ito?

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