Watch this video to learn about a debtor Issuing payroll on paydays in a Chapter 11 Bankruptcy. Contact Hall & Navarro now.
Question:
Can the debtor issue payroll checks on its regular paydays in a chapter 11 bankruptcy?
Answer:
One of the first
questions that we get regarding a Chapter 11 bankruptcy in Georgia is how to continue to pay your employees. Any Chapter 11 requires the setting up of three different accounts. One is a tax account, one is a payroll account, and one is an operating account. Those accounts must be set up in order to pay the employees after the filing of a bankruptcy. You need to have those accounts set up in order to disburse those monies to your employees, but the quick answer is you can pay your employees, of course, after the filing of a bankruptcy as, obviously, you have to have your employees to continue to do business. If you any questions, please give me a call.
Are you or a loved one in the process of filing for bankruptcy in Statesboro, Springfield, or Swainsboro and have questions about a debtor issuing payroll on paydays in a Chapter 11 Bankruptcy? Contact the experienced Georgia bankruptcy attorneys at Hall & Navarro today for a consultation and case evaluation. We can help get your life back on track.
