Redundancy

[dk3352]

Hi,

My company have offered me redundancy in the form of 4 'pararé' cheques spread out over the next 4 months. I don't feel the cheques are secure as the companies financial situation is quite bad and they could possibly default on paying them.

Can i request the full amount in one payment?
Also, how secure are pagarés? What is my legal option?

Hope you can help.
Thanks

[dk3352]

Can anyone give me some advice on the above question. I need to give my company an answer today.

As far as i can see, there are 3 options:
1. Pay me in full now. No pagarés.
2. Go back to work for them.
3. Denounce them.

[Lawbird Lawyer]

Dear Sir/Madame,

I wouldn't accept the pagarés unless they are guaranteed which is higly unlikely. If the company defaults the pagarés will be worthless as you will not be able to claim on them.

Definitely option one is the best in view of how you depict the financial situation of your employer.

A bird in the hand is worth two in the Bush.

[dk3352]

Hi,

Thanks for the advice, The pagarés appear to be useless. The company have informed me that they are guaranteed by the government and can be registered by the court within 20 days but this doesn't sound right.

What do you think?

[Lawbird Lawyer]

Replied by phone call.