Re:Anime is booming, so why are animators living in poverty?
by webmaven on Tuesday March 09, 2021 @05:42PM
(#26405438)
Look, businesses don't go bankrupt completely out of the blue. There are so many ways to ensure that various parties get their pound of flesh while loading up the company with additional liabilities that it is ridiculous.
Sure, technically employees are near the top, but that doesn't help if all the cash and assets are long gone.
you're simply making things up. stop it.
you can look up the hierarchy of creditors, and see where employee compensation lands. they're fourth priority, after domestic support obligations (probably not relevant to a business), administrative expenses (gotta pay the courts and court-appointed bankruptcy trustee), and claims from involuntary bankruptcy.
employee benefits are in the fifth priority. there are four more priority levels (6 through 10), and then all of the unsecured creditors.