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The company that I work for has just gone out of business. Their bank account has been seized by the CRA. I have been working there for over 15 years. Am I entitled to receive any severance? Thank you!
Unfortunately, if your company has gone bankrupt then this means that the company does not have the money to provide you with a severance package and you become an unsecured creditor. However, there is a government program called the Wage Earner Protection Program that would still provide you with your minimum termination pay entitlement. You should receive information from the bankruptcy trustee with respect to this program and if you don't you should contact the trustee and ask them.