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Home / Opinion Digests / Employees’ Severance Claims Have Priority (access required)

Employees’ Severance Claims Have Priority (access required)

The 4th Circuit affirms a bankruptcy court holding that terminated employees of debtor LandAmerica Financial Group “earned” their severance compensation on the date they became participants in the debtor company’s severance plan immediately after their termination, and rejects the trustee’s position that only a pro-rated portion of the claims had been “earned” in the 180 ...