Severance Pay (TFR) is a sum of money that the employer is required to pay the worker at the end of the employment relationship, whether it is due to dismissal, resignation, or retirement. However, one of the main concerns for workers is to know what happens to the severance pay in the event of the company's bankruptcy. This situation raises numerous legal questions and requires the assistance of an expert, such as a lawyer specialized in labor law.
In Italy, the regulation of bankruptcy is governed by the Bankruptcy Law (Royal Decree March 16, 1942, No. 267), which has recently been reformed with the Business Crisis and Insolvency Code. In this context, severance pay falls under the credits to be liquidated during the bankruptcy procedure. Lawyers specialized in bankruptcy law can provide valuable support in understanding these dynamics.
A crucial element to consider is the existence of the INPS Guarantee Fund, established to protect workers in the event of employer insolvency. This fund intervenes to cover unpaid severance pay, provided that certain conditions are met. To access the Guarantee Fund, it is necessary for the worker to obtain specific documentation, including the Admission Decree to the Bankruptcy Claims by the Bankruptcy Court.
Recovering severance pay in a corporate bankruptcy situation can be complex and requires a series of specific steps that are useful to address with the support of an experienced labor law attorney:
Facing a company's bankruptcy and the implications for severance pay is a process that requires attention and specific expertise. It is essential to rely on a lawyer specialized in labor law or bankruptcy law to correctly navigate the current regulations and protect one's rights. If you need further clarification or wish for personalized advice, do not hesitate to contact the Bianucci Law Firm. We will be happy to assist you at every stage of the process to ensure you achieve the best possible outcome.