Balancing the Protection of Business and Employment in Insolvency

Balancing the Protection of Business and Employment in Insolvency PDF

Author: Jennifer L. L. Gant

Publisher:

Published: 2017

Total Pages: 0

ISBN-13: 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]

Employee Rights in Corporate Insolvency

Employee Rights in Corporate Insolvency PDF

Author: Hamiisi Junior Nsubuga

Publisher: Routledge

Published: 2019-10-08

Total Pages: 213

ISBN-13: 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.

Orderly and Effective Insolvency Procedures

Orderly and Effective Insolvency Procedures PDF

Author: International Monetary Fund

Publisher: International Monetary Fund

Published: 1999-08-02

Total Pages: 108

ISBN-13: 9781557758200

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Written by IMF's Legal Department, this book outlines the key issues involved in designing and implementing orderly and effective insolvency procedures, which play a critical role in fostering growth and competitiveness and may also assist in the prevention and resolution of financial crises. The book draws on lessons learned from firsthand experience by some of the IMF's 182 member countries. It includes an analysis of the major policy choices that countries need to address when designing an insolvency system, a discussion of the advantages and disadvantages of these choices, and a number of specific recommendations.

Corporate Insolvency: Employment and Pension Rights

Corporate Insolvency: Employment and Pension Rights PDF

Author: David Pollard

Publisher: Bloomsbury Publishing

Published: 2022-10-24

Total Pages: 1421

ISBN-13: 1526515644

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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. This title is included in Bloomsbury Professional's Insolvency Law online service.

The Protection of Employee Entitlements in Insolvency

The Protection of Employee Entitlements in Insolvency PDF

Author: Helen Anderson

Publisher: Melbourne Univ. Publishing

Published: 2014-02-03

Total Pages: 477

ISBN-13: 0522865992

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The Protection of Employee Entitlements in Insolvency: An Australian Perspective is the first detailed analysis of the law and policy dealing with employee entitlements such as wages, leave and redundancy payments that are threatened when companies fail. Although Australia has a government-funded safety-net scheme, currently known as the Fair Entitlements Guarantee, it doesn't cover all lost entitlements for all workers. Some argue that the scheme removes any incentive for companies to make adequate provision for their employees' entitlements, increasing the burden on the taxpayer. As well as investigating ways to safeguard the entitlements of employees that are presently lost through the improper behaviour of directors, The Protection of Employee Entitlements in Insolvency covers the history of Australia's present system and comprehensively sets out the avenues available to assist employees to recover their entitlements. It also canvases what might be done in the future to improve the protection of employee entitlements in Australia when companies become insolvent.

Rescue of Business in Europe

Rescue of Business in Europe PDF

Author: Gert-Jan Boon

Publisher: Oxford University Press

Published: 2020-01-30

Total Pages: 1505

ISBN-13: 019256112X

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This edited volume is based on the European Law Institute's (ELI) project 'Rescue of Business in Insolvency Law'. The project ran from 2013 to 2017 under the auspices of the ELI and was conducted by Bob Wessels and Stephan Madaus, who were assisted by Gert-Jan Boon. The study sought to design (elements of) a legal framework that will enable the further development of coherent and functional rules for business rescue in Europe. This includes certain statutory procedures that could better enable parties to negotiate solutions where a business becomes financially distressed. Such a framework also includes rules to determine in which procedures and under which conditions an enforceable solution can be imposed upon creditors and other stakeholders despite their lack of consent. The project had a broad scope, and extended to consider frameworks that can be used by (non-financial) businesses out of court, and in a pre-insolvency context. Part I of this book, the ELI Instrument as approved by the ELI Council and General Assembly, features 115 recommendations on a wide variety of themes affected by the rescue of financially distressed businesses, such as the legal rules for professions and courts, treatment and ranking of creditors' claims, contract, corporate and labour law as well as laws relating to transaction avoidance. Part II consists of national reports that sketch the legal landscape in 13 States and of an 'Inventory Report on International Recommendations from Standard-Setting Organisations', both of which provided insight for the drafting of the Instrument. This volume is designed to assist those involved in a process of law reform and those setting standards for soft law in the business rescue context.

Insolvency Prospects Among Small-and-Medium-Sized Enterprises in Advanced Economies

Insolvency Prospects Among Small-and-Medium-Sized Enterprises in Advanced Economies PDF

Author: Mr.Federico J Diez

Publisher: International Monetary Fund

Published: 2021-04-02

Total Pages: 29

ISBN-13: 1513574566

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The COVID-19 pandemic has increased insolvency risks, especially among small and medium enterprises (SMEs), which are vastly overrepresented in hard-hit sectors. Without government intervention, even firms that are viable a priori could end up being liquidated—particularly in sectors characterized by labor-intensive technologies, threatening both macroeconomic and social stability. This staff discussion note assesses the impact of the pandemic on SME insolvency risks and policy options to address them. It quantifies the impact of weaker aggregate demand, changes in sectoral consumption patterns, and lockdowns on firm balance sheets and estimates the impact of a range of policy options, for a large sample of SMEs in (mostly) advanced economies.

The EU Charter of Fundamental Rights

The EU Charter of Fundamental Rights PDF

Author: Steve Peers

Publisher: Bloomsbury Publishing

Published: 2014-12-01

Total Pages: 1938

ISBN-13: 1849467471

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The Charter of Fundamental Rights of the European Union enshrines the key political, social and economic rights of EU citizens and residents in EU law. In its present form it was approved in 2000 by the European Parliament, the Council of Ministers and the European Commission. However its legal status remained uncertain until the entry into force of the Treaty of Lisbon in December 2009. The Charter obliges the EU to act and legislate consistently with the Charter, and enables the EU's courts to strike down EU legislation which contravenes it. The Charter applies to EU Member States when they are implementing EU law but does not extend the competences of the EU beyond the competences given to it in the treaties. This Commentary on the Charter, the first in English, written by experts from several EU Member States, provides an authoritative but succinct statement of how the Charter impacts upon EU, domestic and international law. Following the conventional article-by-article approach, each commentator offers an expert view of how each article is either already being interpreted in the courts, or is likely to be interpreted. Each commentary is referenced to the case law and is augmented with extensive references to further reading. Six cross-cutting introductory chapters explain the Charter's institutional anchorage, its relationship to the Fundamental Rights Agency, its interaction with other parts of international human rights law, the enforcement mechanisms, extraterritorial scope, and the all-important 'Explanations'.

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