Better Place Inc. employees today filed an urgent motion the Central District Court, ahead of the hearing on the company's liquidation, to order liquidator Adv. Sigal Rozen-Rechav to pay them their salaries for May and to fulfill their rights before the liquidation.
Yesterday, Judge Eitan Orenstin, appointed Rozen-Rechav, of the Raved Magriso Benkel & Co. law firm as Better Place's liquidator, and scheduled a hearing in the presence of the parties for this morning.
The employee's motion states, "According to information in our possession, the company's current cash reserves are sufficient to pay the amounts owed the employees for the May 2013 salaries, under preemption priority." The intention is only for the salary component owed the employees if Better Place were not in liquidation proceedings.
The employees say that, under labor laws, as Better Place creditors, they have priority over other debts as far as their salaries are concerned and should be paid before debts to other creditors, to avoid real damage to their salaries now.
"There are many employees with varying salary levels at the companies, most of whom will be in a hopeless situation and unable to meet many financial commitments," states the motion. "There is great fear that without payment of the May salaries, their standing bank orders, including for mortgages, will not be honored, which exposes them to serious problems."
The employees have also asked the court to order Rozen-Rechav to release money deposited on their behalf by Better Place in provident, study and pension funds, managers insurance, and in any other fund to ease the employees' situation.
Published by Globes [online], Israel business news - www.globes-online.com - on May 28, 2013
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