[PDF] Employee Rights In Corporate Insolvency eBook

Author : Hamiisi Junior Nsubuga
Publisher : Routledge
Page : 213 pages
File Size : 46,70 MB
Release : 2019-10-08
Category : Law
ISBN : 1000731111

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This book analyses corporate rescue laws, processes and policies prescribed in corporate insolvency or bankruptcy laws, and employment laws of the UK and the US, with a particular focus on how extant employee rights are treated when a debtor employer initiates corporate insolvency proceedings. The commencement of formal insolvency proceedings by an employer affects employees’ rights and interests. Employment laws seek to protect employees’ rights and interests, while insolvency laws seek to promote corporate rescue, which may entail workforce changes. Consequently, this creates a tension between whose interest insolvency law should give primacy of protection. The book analyses how corporate rescue processes such as administration, pre-pack business sales, company voluntary arrangements, receivership and liquidation impact employee rights and protection during corporate rescue proceedings in both jurisdictions. It goes on to address how the federal system of government in the US and the diffusion of power between federal and state law jurisdictions impact a uniform code of employee protection during Chapter 11 bankruptcy reorganisation proceedings. The book considers how an interpretative approach to law (Dworkin’s Interpretative Theory of Law) may be used to balance both employee protection and corporate rescue laws during corporate insolvency in the UK and the US. Of interest to academics, students and employment law practitioners, this book examines the tension between corporate rescue laws and employment protection laws during corporate insolvency in the US and the UK and how this tension may be remedied or balanced.

Author : Dr Kubi Udofia
Publisher :
Page : 3 pages
File Size : 30,95 MB
Release : 2019
Category :
ISBN :

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Formal insolvency proceedings are usually characterised by adverse consequences on a broad range of stakeholders of the insolvent company. Affected stakeholders typically range from directors, shareholders, employees, counterparties, creditors to tort victims. Employees are usually regarded as being among the most vulnerable stakeholders. As involuntary creditors, employees do not assume the risk of their employers' distress and inability to pay wages. Unlike trade creditors, employees do not extend credit to their employers, they do not have the capacity to ex ante factor in the risk of insolvency into their entitlements and are not positioned to negotiate for security or quasi security measures. Besides, it is common practice for some companies to have standardised employment contracts for employees.Employees are also considered vulnerable due to their inability to diversify their risks. Employees often have one employer at a time and typically depend on the employer as their sole source of income. Failure by the employer to pay pre-insolvency wages will have far-reaching implications on employees including impairing their ability to cater for basic needs such as food, shelter, healthcare etc. In contrast, trade creditors often transact with several counterparties asides the insolvent company thereby diversifying their risks.

Author : David Pollard
Publisher :
Page : 992 pages
File Size : 26,80 MB
Release : 2021
Category : Bankruptcy
ISBN : 9781526515650

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"Bridges the gap between the three distinct disciplines of pensions, employment and corporate insolvency law. Through a mix of legislation, case law, analysis and comment, this well-regarded text gives you all the information you need to answer your clients' questions. It outlines the legal principles applicable where the three regimes interact, with a particular focus on the application of the rules relating to corporate insolvency and how they impact on employees and their pension rights. For example: - How is the position of employees affected by the appointment of an insolvency practitioner over their employing company? - Who is liable, and what priority is given to past or future claims? Updates for the 7th edition include: - Full treatment of CVAs and pensions - Implications of the Court of Appeal decision in Granada/Box Clever about ?association? and about Pensions Regulator powers - Implications of proposed pensions legislation, including new criminal offences - New Crown preferential debts Corporate Insolvency: Employment and Pension Rights is cited in many works focusing on the employment and insolvency fields. If you work as an employment, pensions or corporate insolvency practitioner, you'll find its up-to-date case law and practical analysis an essential aid to your work."--

Author : Jennifer L. L. Gant
Publisher :
Page : 0 pages
File Size : 29,57 MB
Release : 2017
Category : Bankruptcy
ISBN : 9789462367555

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Following the economic shocks of 2007/08 a spotlight has been thrown on how best to support effective business rescue and employment protection. However, business rescue and employment protection often tend to conflict in law and policy. Employees attached to the sale of a business often represent a liability by reducing the business's intrinsic value and deterring business acquisitions in view employment liabilities that transfer by operation of the Acquired Rights Directive. As such, a balance must be sought between the conflicting policy objectives of business rescue and employment protection. This book presents an investigation based on a comparative legal historical analysis of the approaches taken to balancing employment protection and business rescue in the United Kingdom and France, chosen due to their legal and political influence in the EU and their archetypically different legal systems. This approach is useful as a background to future reform efforts as it explains how particular jurisdictions might receive and then implement such reforms given the underlying aims of business rescue and employment protection policies. (Series: European and International Insolvency Law Studies, Vol. 4) [Subject: Commercial Law, Labor Law]

Author : Christopher F. Symes
Publisher : Routledge
Page : 290 pages
File Size : 40,50 MB
Release : 2016-12-05
Category : Law
ISBN : 1351897977

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Who enjoys statutory preferred creditor status? What justifications exist for jurisdictions to maintain statutes that favour 'priority' creditors over other creditors and contributories? This book examines preferential debts derived from specific legislative provisions applying to corporate insolvency. In exploring the concept of preferential treatment, Statutory Priorities in Corporate Insolvency Law includes chapters that provide a doctrinal, theoretical and historical analysis of who enjoys preferred creditor status. As well as examining the traditional major categories of priorities, this work also identifies potential new categories for priority status such as environmental clean-up costs, international creditors, tort claimants and consumers among other non-consensual creditors. While the study focuses on Australian corporate insolvency law, where appropriate, comparisons are made with other common law jurisdictions, particularly the UK, Canada, New Zealand and the US.

Author : Vanessa Finch
Publisher : Cambridge University Press
Page : 661 pages
File Size : 14,56 MB
Release : 2002-09-12
Category : Business & Economics
ISBN : 0521622565

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This interdisciplinary examination of corporate insolvency law assesses recent reforms and anticipates new legislation.

Author : International Labour Office
Publisher : International Labour Organization
Page : 164 pages
File Size : 14,35 MB
Release : 1991
Category : Business & Economics
ISBN : 9789221064770

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Examines the development of different systems designed to protect wages and other benefits if the employer becomes insolvent. The book includes a comparative study and four country studies (Austria, Belgium, Spain and the UK) illustrating both arrangements based on the principle of privileged claims and wage guarantee institutions linked to social security.