When a company is insolvent and enters voluntary liquidation employees that have been working for two years or more can expect to receive a statutory redundancy payment. What most people don’t know is that company directors who can prove their status as an employee of the company (we can do this for you) may also qualify for redundancy along with other statutory payments such as holiday pay and unpaid wages.

This money is paid from the government’s National Insurance Fund and can provide a much needed financial boost at a very difficult time. Not only can it pay for the liquidation itself (often the liquidators fees can be deferred until the redundancy claim is processed) but it usually leaves a lump sum for the directors to clear any personal debts or start another business.

Unfortunately many Insolvency Practitioners are miss-identifying this legal right to potential funds. It is a complex area of employment law but given the potential sums involved we always recommend Directors check their eligibility. The Redundancy Payments Office process hundreds of claims each month and you and any fellow Directors could be eligible to claim.

Are you one of those Directors missing out? Don’t delay…we advise you to find out today whether you are eligible! Director redundancy claims can be up to £15,750 plus up to 12 weeks’ notice and 6 weeks unpaid holiday pay and it can take as little as 6 weeks to receive the funds.