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Unemployment

The company I’m working for is bankrupt, have I lost the salary owed to me?

When a company becomes bankrupt the Salary Guarantee Trust guarantees; claims for  unpaid salaries for the past three months you worked for your employer; holiday pay and pension fund payments that passed their due date during the past 18 months before the company was declared bankrupt.

The trust is also liable for damage claims for up to three months' loss of salary due to termination of employment (you have to verify, such as by registering at a government job agency, that you were on the labour market and were actively job hunting during the period of resignation). In some instances the claims can not be paid in full because the trust only guarantees claims up to a specific maximum. Unemployment benefits and any payments from your employer into your claims are subtracted from any payments from the trusts. See further www.vmst.is, www.asi.is and  www.efling.is
Forsíða English FAQ Unemployment The company I’m working for is bankrupt, have I lost the salary owed to me?