Bankruptcy and Corporate Liquidation (Employee Rights)

The National Insurance protects employees whose rights were prejudiced as a result of economic difficulties encountered by their employer.
The salaried employee whose employer has been served a bankruptcy, corporate liquidation or execution proceedings order, is entitled to a benefit under chapter 8 of the National Insurance Law. This benefit includes payment of wage debt, severance pay and payment of the debt owed to the employee's provident fund for arrears accumulated by his employer.
Following the enactment of the Insolvency and Economic Rehabilitation Law (5778-2018), some changes applied to existing insolvency rules. Accordingly, we have modified and adapted the conditions of entitlement, claim submission requirements and benefit payment.