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Employee Rights In Insolvency

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Chapter Summary

This chapter focuses on the contract between employer and employee and discusses the status of preferential creditor for employees and the possibility of a public fund or some other guarantee to ensure that employees recover arrears in salary and other contractual entitlements even where there are insufficient funds in the bankrupt estate. In some countries under some circumstances, there may be an additional avenue for vindicating employee contractual rights: personal liability of officers and directors for unpaid compensation or pension contributions. The chapter discusses the role of the employees in the management and governance of the employer. It reviews briefly the current trends in employee participation in the governance of large corporations and considers the provision for the consultation of employees in cases where the corporate employer wishes to dismiss large sections of the workforce on the grounds of redundancy.

Keywords: creditor; employee rights; personal liability



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