If my company recently changed ownership, how long can the prior owners make us wait to recieve payment for benefits earned?
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
If my company recently changed ownership, how long can the prior owners make us wait to recieve payment for benefits earned?
The new owners did not carry over our PTO balances and we were informed the owners would be settling our individual accounts.
Asked on December 12, 2012 under Employment Labor Law, Nebraska
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
If the benefits that you have written about are due you and others then upon close of the escrow for the sale of the company the benefits you have written about are immediately due and payable to you or to be rolled over into a benefits account.
IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.