Q: payroll questions
My company is in the process of being sold payroll has not been paid since Dec 15 2016. the person purchasing the company has assumed all payroll responsibility but has been advised not to pay anything until escrow is closed due to numerous bad debts. this seams a little strange I would think labor law would take a higher standing in this case
A: For the new owner the most prudent decision probably is to wait until all aspects of the sale are complete before paying payroll. Since the sale is not complete the new owner is likely not subject to payroll obligations. However, the old owner (current owner) is still obligated to pay wages. As such, the current owner is violating labor laws. You may want report the current violation to the CO. Dept. of Labor. Hiring a lawyer is also an option.
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