Legal Question in Bankruptcy in Virginia
Bankruptcy in business - what is legal
I work for a company that filed Chapter 11 bankruptcy because in acquiring old businesses that were in debt they felt it was best to do this on all the old debts they inherited. Yesterday they came in without any notice and told all of the employees, salaried and hourly, that they were going to cut our wages 5%. Is that legal for them to do?
Asked on 1/12/00, 8:14 pm
1 Answer from Attorneys
Ken Koury
Kenneth P. Koury, Esq.
Re: Bankruptcy in business - what is legal
it is legal as long as they do not go below minum wage.
Answered on 1/18/00, 9:36 pm
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