In many circumstances a director of a Company that has entered into liquidation may make a claim for Redundancy Pay. If successful these claims will be paid by the Redundancy Payments Service, a government agency set up to deal with this.
In order to claim as a director you will need to be an employee of the same company receiving a regular wage for hours worked (a minimum of 16 hours per week).
You must also have worked for the company for a minimum of 2 years.
You may also be entitled to claim for any unpaid wages and holiday pay.
Can help cover the costs of liquidation if the company has insufficient assets to meet these, meaning that you can be free of creditor pressure and fulfil your directors responsibilities.
Could provide a windfall to help you fund new projects or whilst you seek alternative employment.
How to make a claim for director redundancy
Directors must meet certain criteria to apply for redundancy payments. The quickest and easiest way to ascertain whether you qualify is to contact a firm who specialise in helping company directors with their statutory entitlements and expert directors debt advice. We can put you in touch with experts in this area so please contact us on 0330 159 8080