Company collapses and employee entitlements

Article Abstract:

Current laws fail to protect employee benefits when companies become insolvent. Employees are certainly vulnerable when liquidation is an issue. In many instances, employees have no additional sources of income and loss of entitlements has severe consequences. Australia's Corporations Law does protect employees by mandating priorities in times of insolvency. Additional measures are being proposed at this time.

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Employee entitlements

Article Abstract:

The increase in the number of major companies going bust means that employees are more at risk. The Australian government is introducing legislation aimed at putting employees needs ahead of those of many creditors.

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Strapped for cash?

Article Abstract:

There are different types of insolvency, liquidation, voluntary administration, corporate and personal insolvency informal workouts, debt agreements and bankruptcy. The differences between these are discussed.

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