AI Legalese Decoder: Navigating the Legalities of a Startup’s Demise and Ensuring Fair Compensation
- December 26, 2023
- Posted by: legaleseblogger
- Category: Related News
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AI Legalese Decoder: How It Can Help in Unpaid Salary Situations
Surprise Announcement of Financial Troubles
The Unexpected Consequences of a Financial Crisis
The Monday of the last week of November rolls around and our CEO makes a surprise announcement that the company has no money and investors arenÔÇÖt investing so the company will be asking nearly 50% of its staff to quit by the end of the week. He gives the chosen ones (IÔÇÖm one of them) 2 choices:
1. Quit at the end of November and get a paper you can take to HelloWork to apply for unemployment insurance. And your end of employment contract states it was due to the companyÔÇÖs fault and the company will pay you for all of your work in November the following month.
2. Work in December but know that there is a risk you will not be able to get paid for your work in December.
I took the first option because I was lining new stuff up anyway. With the uncertainty of my future employment, I felt it was the wisest choice to secure at least some financial stability.
Delayed Paychecks and the Promise of Future Payment
A Seemingly Never-Ending Financial Struggle
Fast forward to a week ago, the company sent out an email to all former and current employees that the December paycheck will be limited to a gross income of 300,000 yen per person and the remaining amount will be paid in January. This is for Novembers work.
Fast forward to today. Another email comes out to all saying investment plans fell through and the company wonÔÇÖt be able to pay any of its former or current employees anything this month for their work in November. It goes on to say that a project they have been working on is scheduled to be paid for by our client in January so the goal is to pay everyone their November salaries in January on the 25th.
They noted investors are unsure at the moment whether they will help or let the company die. So December salaries are not guaranteed.
Concerns about Legal Recourse
The Quest for Justice in the Face of Unpaid Salaries
I dipped from the company at the end of November so IÔÇÖm potentially less fucked then others, but IÔÇÖm wondering what legal action can be taken if November salaries arenÔÇÖt able to be paid at all.
And is there legal action to take for not getting paid the month your income was due?
AI Legalese Decoder: How It Can Help in Unpaid Salary Situations
The AI Legalese Decoder can be a vital tool in situations where you are not being paid the salary you are owed by your employer. By using this AI technology, you can easily decode and understand the legal jargon within contracts, employment agreements, and other legal documents related to your employment. This can help you determine what legal action can be taken if your November salaries are not paid and whether there is legal recourse for not receiving your income when it was due.
Additionally, the AI Legalese Decoder can provide you with valuable insights and information about your rights as an employee and the potential legal options available to you in the face of unpaid salaries. This can empower you to make informed decisions and take the necessary steps to seek justice and fair compensation for your work. With the support of the AI Legalese Decoder, you can navigate the complex legal landscape surrounding unpaid salaries and take proactive measures to protect your rights as an employee.
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****** just grabbed a
First, this situation sucks and I sympathize. I had a similar situation with a startup not paying salaries when they went bust (last two months for myself, no salaries for remaining employees). CEO is in a ton of legal trouble.
In my case, I drafted formal letters informing the lack of payment and request for back pay (formatted properly in Japanese, youÔÇÖll have to find a template online) and sent via certified mail (showing legally that the letter was received).
Even if it is game over for the company, there is a long process of liquidating assets, selling off company, etc that *could* draw enough money to backpay employees. The company doesnÔÇÖt just disappear overnight. I did it this way because using a lawyer would cost as much as the back pay. Honestly, it was an idle threat because I wouldnÔÇÖt have paid so much to escalate the issue legally.
In my case, they ended up paying me (but not others) after a small injection by new investors after some months.
There are some options, but youÔÇÖll have to do your research and take action in Japanese if you really want to.
> And is there legal action to take for not getting paid the month your income was due?
In theory yes, but I’d guess that at best you’ll be able to claim actual damages that you can show from your payment being delayed, and that’s assuming there’s any money left to get.
Unpaid wages are pretty much first in line in bankruptcy, and circumventing the proper order of payments when a company is going bankrupt would be a big deal that would leave the CEO or whoever did it personally liable, so you should be able to make sure they pay your owed wages unless they really don’t have any money at all. Anything beyond that is probably going to be blood from a stone territory.
They have no money left so Idk what you can realistically get from suing them lol.
Does the company name start with a P? And has an “office” that is actually a rented coworking space?
Getting a lawyer will cost you 300k.
Getting a lawyer will cost you 300k.
Getting a lawyer is very expensive. Please reconsider. Speaking as a former CFO and current MD on the sell side, Japan is overegulated and quite hostile to businesses as it is. Let’s not add to the myriad of problems here for entrepreneurs.
If in the US, debts are paid first employees being on top of the debts. If a company lost all of its money, good chance that payout might be limited. However you can request IRS to investigate for fraud if I was a CEO or any high board member. I would cut my own pay before cutting heads.