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redundancy for a director/general manager in The AnswerBank: Business & Finance
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redundancy for a director/general manager

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crabbers | 19:43 Mon 08th Oct 2007 | Business & Finance
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I am a minority shareholder and director of a small company which is failing. My job description is general manager and I am on the payroll and earn a monthly salary from the company. If the company closes its doors and ceases trading its losses are guaranteed to the bank by a multilateral guarantee by its parent company. So would I be entitled to redundancy payments as a director before or after we ceased trading. Also if redundancy is due after the company has ceased trading is this normal company redundancy or state redundancy?
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Unless you know otherwise, you have a contract of employment with the organisation and therefore qualify for redundancy payments, provided you satisfy the qualification criteria on length of service.

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