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Fatwa CenterTroubled company management
Question
I run a company for three years and thing is not going well these days I do see any hope to continue due maybe to mismanagement or the economic situation on this island I am doing my best to pay everyone but it seems hopeless. But for some year I did not took my profit but yes my expenses I have my saving if I try to take my profit remain no money to pay and the company goes in more debt to a lot of supplier. What to do advise is right to take my money first or try to pay is that Haraam? Allaah gives you the best to help me out I need an advise.
Answer
All perfect praise be to Allaah, The Lord of the Worlds. I testify that there is none worthy of worship except Allaah, and that Muhammad is His slave and Messenger. We ask Allaah to exalt his mention as well as that of his family and all his companions.
It is not clear from the question, whether the inquirer is an employee in this company or its owner. Considering the second probability, we say that debts are either deferred or due.
If they are deferred meaning that their payment is not due, then there is no objection to your postponing the payment until the due deadline. But if they are due and the creditors want their money back, then you should pay back the due amount unless you get a respite from the creditors to delay returning their money. But if the creditors do not grant you a respite, then you are obliged to pay them even if that leads to the termination or collapse of your company. In this last situation the ruling concerning a bankrupt person applies to you. Islam defines the bankrupt as a person whose debts exceed his wealth. In such a case, the creditors have the right to seek payment for their money even if that means consuming all the wealth of the debtor apart from his necessary needs such as a home that shelters him and what he spends on himself and the persons under his guardianship.
Now, if you are just an employee in the company, then you are just one of the creditors. In this case, it is kind of you to allow the company to pay back the debts due to the other creditors before you. We ask Allaah to ease your matters.
Allaah Knows best.
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