You might also have a claim that your employment should transfer to any purchaser of the business assets.
A check through Companies House will tell you the legal state of a company, but it will be classed as legally insolvent if:
- It is in administration and an administrator has been appointed.
- An Official Receiver has been appointed.
- The company is in liquidation.
- A winding-up order has been made, or a resolution for voluntary winding-up has been passed.
- A voluntary arrangement has been approved – under which creditors have entered into an agreement with the company under the supervision of an insolvency practitioner.
- Possession of the company has been taken by the owners of a charge.
Employees may be able to make a claim for payment of unpaid wages, but office holders – such as company directors – may not qualify.
Lost wages can also include commission, holiday pay and overtime payments that you could have earned.