The AGS, Association pour la gestion du régime de Garantie des créances des Salariés, (Association for the management of the Employee Debt Guarantee Scheme) is an organisation that takes over the payment of wages and salaries in the event of non-payment by a company in receivership or liquidation proceedings, up to a certain ceiling.
The AGS’s involvement presupposes the opening of insolvency proceedings (receivership / judicial liquidation) and the company’s lack of funds to pay wages and social security contributions. In the event of a judicial liquidation, employment contracts are terminated.
Wages, bonuses, compensation, social security contributions and other claims arising from the termination of the contract are guaranteed, subject to certain ceilings. The principle is the same for terminations during receivership, subject to the conditions under which employment contracts are terminated.
