Thats Right I lost my job today
This is what happen Today i went in to work and my boss wasn't there i waited in the cold for like two hours i ended up going home to get a call from liquidators saying that the business had gone bankrupt. So I'm going to most likely lose like $4000 in back pay and annual leave.
if he knowingly let the company trade while insolvent - and if he was a directory of the company, you (and others) might be able to fuck him up for doing so... or at least prevent them from running another business into the ground for a while.
the liquididator/administrator is usually the one deciding whether to pursue them in the courts for this (surprisingly common) offence.
R U salaried, or on contract? at least workers get first/second bite at liquidation... contractors/unsecured creditors usually get zilch... (me being one of them twice)