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Insolvent Corporate Groups and Their Employees
其他書名
The Case for Further Reform
出版SSRN, 2005
URLhttp://books.google.com.hk/books?id=aGzrzgEACAAJ&hl=&source=gbs_api
註釋This article discusses some of the practical and legal problems involved in claims by employee creditors where an employer company that is a member of a group of companies becomes insolvent, and has a receiver, administrator or liquidator appointed to it. The article considers the options for further reforming the current laws relating to recovery of such claims. It argues that further amendments should be made to the Corporations Act 2001 (Cth) and other legislation to provide more effective means of ensuring that such claims are paid.In particular, further changes are needed to mitigate the effects of the frequent quot;separationquot; of employees from the assets of the business in which they work by using different companies in the corporate group structure. It will be argued that a formal statutory scheme for quot;poolingquot; the assets of insolvent corporate groups is needed in Australia. Also, it will be argued that the present approach of partially meeting unpaid employee claims from a government fund, while better than not meeting them at all, is fundamentally wrong headed. It should be replaced by a compulsory scheme to force the businesses themselves to provide or insure for their employee wages and entitlements in full.