My company was sold to another company with them owing me for Accured vacation time of 5 weeks, we were not notified until 2 days before. The HR Dept no longer exists and the new company won’t honor, am I entitled to that pay.
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My company was sold to another company with them owing me for Accured vacation time of 5 weeks, we were not notified until 2 days before. The HR Dept no longer exists and the new company won’t honor, am I entitled to that pay.
Gdogfennellgmail
Asked on October 2, 2016 under Employment Labor Law, Texas
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 7 years ago | Contributor
1) The new company only needs to honor the vacation IF the old company was an LLC or corporation and the new company (or its owners or holding company, etc.) bought the old LLC or corporation--in that case, the old entity (the old company) which owes you vacation time still exists, is owned by the new, and is still liable for it. But if the old company was not an LLC or corporation, or it was, but the new owners did not buy the LLC or corporation (e.g. only bought the "assets"), then they did not take over any obligation vis-a-vis vacation.
2) Even if the new company were liable for the vacation, in your state, there is no payout of accured vacation on termination if and only if there was a written policy or contract in place guarantying you this pay when you separated from employment. Without that, they don't have to pay you.
3) No law requires a "letter of termination" when employment ends.
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