Boss closing company how do i get my profit sharing?

UPDATED: Sep 30, 2022

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Boss closing company how do i get my profit sharing?

Boss closing company in 3 days how do I get my profit sharing? off due to accident at work. was just notified today of closing of company. Can’t find a work comp attorney they tell me no money in it fir them because i’m in Kansas Help please

Asked on December 28, 2016 under Employment Labor Law, Kansas


SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 5 years ago | Contributor

If the company was a sole proprietorship, if you had a written agreement giving you profit sharing, the owner (who presumably was the one signing or executing the profit-sharing agreement) should remain personally liable or responsible for your money: if you are not paid, you could sue him for the money, based on the agreement.
If the company was an LLC or corporation, however, only the LLC or corporation, not the owner(s) personally, is liable. That means that if the company still exists (is not dissolved) but has no money, while you can technically sue, you won't get anything. And if the company is dissovled, you can't even sue--there will be nothing and no one to sue.

IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

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