Question for business/employee attorney (1 Viewer)

For a company that is about to be taken over by a creditor, where does employee back pay come in vs debt load? This company (company A) is about to be taken over by another company (company B) that loaned the company A a good amount of money. 

Company B has priority in pay back over any other creditors (and there are many), as they made all other creditors sign subordination agreements. My question is do they have priority over an employee of company A who is owed a large amount of money from back pay (commission from sales). I'm awaiting back a call from an attorney regarding such question, but thought I might get a FBG's take too, assuming it's in their field. 

If I remember my bankruptcy from Eisenberg, employee wage claims are given priority over all other unsecured creditors, but after secured creditors. Employees also come after the attorneys that will be working on the bankruptcy case.

Gawain said:

If I remember my bankruptcy from Eisenberg, employee wage claims are given priority over all other unsecured creditors, but after secured creditors. Employees also come after the attorneys that will be working on the bankruptcy case.

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Ahh, I'm screwed then. Somehow I'm not surprised that law would be setup that would protect creditors over employees. Thanks for your input.