CAN I WORK FOR A COMPANY THAT HAS BEEN DECLARED BANKRUPT ?.

Sande has been jobless for the last three years and he believed that at this rate, he would probably never get another job until Munaku Traders Co. Ltd called him for an interview. It turns out he was the best person for the job and was given the position of ‘Sales Associate’. On getting home, his housemate told him that he remembered that Munaku Traders had financial issues and had possibly been ‘bankrupted’. Sande does not want to lose his new job but wants to know if a company that is ‘bankrupt’ is allowed to hire.

WHEN IS A COMPANY BANKRUPT?

When we say a company is Bankrupt, we mean when that company cannot continue to run its business because of its debts.

When a person (an individual) is bankrupt, they can continue ‘living’. Unfortunately, when a company is declared bankrupt, it means that the company’s life must come to an end. This is called liquidation (the process of putting an end to a company’s operations and work).

CAN YOU WORK FOR SUCH A BANKRUPT COMPANY?

By law, when a company chooses to close because of its debts or expenses, it stops carrying on its business except where that business is necessary for its closure, such as collecting its money from those who had it or selling off its business goods.

This means that this company cannot employ people to do tasks for the usual business but may employ someone to help with the work leading to its closure, such as selling off its goods or assets. However, it may not be a good idea to enter a long-term employment contract with them since they not only lack the funds to pay you, but any claim you may have against them may not end successfully for unpaid wages since you knew this company was bankrupt.

📷:Unsplash

#BarefootLaw

#osutayusuf

Comments

We Bring You Brief Series of Sanctions Against Uganda Government Officials.

📸: Gen Abel Kandiho. On 9-December-2021, USA slapped sanctions against the then CMI Commander Gen Abel Kandiho. 📸: Gen Kale Kayihura. On 9-December-2022, UK slapped sanctions against former Police Boss Gen Kale Kayihura. 📸: Commissioner General of Prisons, Johnson Byabashaija. Again on this 4-December-2023, the same USA has slapped sanctions against Uganda Prisons Commander Johnson Byabashaija over alleged torture and human rights abuses in Prisons across Uganda. We ask, has USA and UK made December as an LCM to slap sanctions against high ranking government officials in Uganda even when the sanctions just remain on paper without deeper investigations to ascertain logical conclusions or remedy to that effect ?. #iip_updates #Information_is_Power #we_inform_the_uninformed

How to Host a Website for Free From Your PC or Laptop.

Why pay for a web hosting service when your old computer can do the same thing? Learn how to self-host your site. If you're planning to launch a website but don't want to pay recurring monthly or annual hosting fees, you can use any old laptop or desktop PC to host a website for free. It's a great way to utilize your old system instead of throwing it away. In this guide, we will install and set up services on our 10-year-old laptop to host a WordPress, Joomla, or custom HTML or PHP-based website with a free SSL certificate. MAKEUSEOF VIDEO OF THE DAY Things You Will Need to Host a Website Following are the pre-requisites to host a website for free from home with just your computer: An old laptop or PC running Ubuntu Server. A registered domain name for your website Ethernet cable to connect the laptop or PC to router for reliable and fast connection Step 1: Update and Upgrade the Packages After installing Ubuntu Server on your computer , execute the following c

WHERE IS MINISTER OF SEX SIMON LOKODO?. (He deserves a battle of soda from me! Ministe`r esalanga mabee. He is quick to run after Mrs Dr Stella Nyanzi and other Opposition elements. Government aza aza edo zuu vaa kpere bua). Anyway, below is the article! POLICE OFFICER AKOL ESTHER CHARGED OF BEING A PUBLIC NUISANCE Naughty Officer Officer who embarrassed police after leaking nude photo charged 13.03.2018 She serves in the 'Very Important Persons Protection Unit' Akol Esther (Courtesy) A female police officer whose nude photo surfaced on social media has been charged of being a public nuisance. Akol Esther serves in the Very Important Persons Protection Unit (VIPPU) of the police force. Kampala Metropolitan Police spokesperson Luke Owoyesigire says Akol Esther might be demoted or expelled from the police force if found guilty of circulating nude photos. Police court is yet to announce date when Akol Esther is expected to appear for a hearing. This comes at a time when Pornography Control Committee is taking tough measures against persons circulating pornography content. The committee warned and promised to arrest persons who will circulate pornographic content.

POLICE OFFICER AKOL ESTHER CHARGED OF BEING A PUBLIC NUISANCE Naughty Officer Officer who embarrassed police after leaking nude photo charged 13.03.2018 She serves in the 'Very Important Persons Protection Unit' Akol Esther (Courtesy) A female police officer whose nude photo surfaced on social media has been charged of being a public nuisance. Akol Esther serves in the Very Important Persons Protection Unit (VIPPU) of the police force. Kampala Metropolitan Police spokesperson Luke Owoyesigire says Akol Esther might be demoted or expelled from the police force if found guilty of circulating nude photos . Police court is yet to announce date when Akol Esther is expected to appear for a hearing. This comes at a time when Pornography Control Committee is taking tough measures against persons circulating pornography content. The committee warned and promised to arrest persons who will circulate pornographic content.

Osuta Yusuf

Search This Blog