Court authorizes MISSA to liquidate property of delinquent employer
posted 4/20/05
In an unprecedented move in recent years, the Administration took possession and facilitated an auction sale of assets of a certain employer who failed to pay his obligations despite repeated demands from MISSA.
This was the result of a High Court judgment (under Civil Case no. 2004-014) in favor of MISSA, that authorized the sale by auction, tender or private sale of the defendant’s assets and apply the proceeds of sale to the judgment. As the proceeds of the sale were less than the amount owed to MISSA, the defendant was further ordered by the court to pay the balance in installments.
Liquidation of assets of employers who have adamantly ignored MISSA’s demand to pay is the ultimate option that the Administration may undertake, if diplomatic and amicable efforts to collect fail.