What happens when a firm goes bust?

G

gretzky

Registered Users (C)
Since I am having more luck on the Canadian forum regarding US immigration issues, at the risk of annoying some folks, I am posting the following questions:

Hypothetical scenario:
1. Employed under H1B with L/C filed
2. The company goes out of business BUT the legal entity remains
3. The company does not officially lay you off AND continues to pay you a nominal salary to show that you are on the payroll; the company does this until you find a new job
4. This nominal salary is significantly less than what was indicated in the H1B and L/C petition
5. You find a new job in six months after the company goes out of business

Questions:
1. Are you out of status during the six months when you are looking for a job?
2. If yes, and you can't find a job immediately after the company goes bust, what options exist besides going back to your home country?

Many thanks.
 
I would sugges t you to post it in the US immigration forum too since these questions are not uncommon. Here's my 2 cents:

1. You will be out of status if your employer lays you off. The rule is that once you are out of status, you must leave the country.In your case, as long as your employer keeps you on their payroll, then you are in status.
I'm not very sure if the change in salary affects your h1b. I know if adversely affects your LC. And out of status issues affect your GC application eventually.
2. If you are laid off, the general rule is that you must get another job in 30 days ( this not a written rule but is generally accepted). If going back to your home country is not an option, Canada has a liberal immigration policy. Check out www.cic.gc.ca and go through the PR documents for skilled immigrants. It takes 2-3 years to get a Canadian PR. If you know French, you can apply for Quebec's PR which is much faster, 1 year optimistically. The huge plus for Canadian immigration is that you CAN do it all by yourself WITHOUT hiring an attorney! I heard if you have an MBA, you can get a PR from Singapore ( not sure of this).
 
Last edited by a moderator:
tarantula, thanks.

1. I actually posted this query on the US forum but, unsurprisingly now, there were plenty of viewers but no responses.
2. Thanks for the Canadian immigration suggestion. I am well on my way towards PR having sent in my medicals last month after receiving a positive initial assessment in February with an interview waiver.
 
You must log in or register to reply here.
Top