The protection of employee entitlements in insolvency : an Australian perspective / Helen Anderson.

Format:

Book

Author/Creator:

Anderson, Helen, author.

Language:

English

Subjects (All):

Industrial relations--Australia.

Industrial relations.

Employee rights--Australia.

Employee rights.

Corporate debt--Australia.

Corporate debt.

Physical Description:

1 online resource (203 pages)

Edition:

1st ed.

Place of Publication:

Carlton, Victoria : Melbourne University Press, 2014.

Summary:

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.

Contents:

Intro

The Protection of Employee Entitlements in Insolvency: an Australian Perspective

Contents

Acknowledgements

Copyright Acknowledgements

Introduction

Motivation for this Book

This Book's Content

How the Research Was Conducted

Notes

1 Employee Vulnerability

Why Employees are Vulnerable to Corporate Collapse

The Particular Problem of Fraudulent Phoenix Activity38

Patrick Stevedores

Mount Schank Meat Processing

Major Collapses around the Turn of This Century

Exicom

Grafton Meatworks

Cobar Mines

Woodlawn Mine

Oakdale Collieries

National Textiles

Conclusion

2 The Federal Government: 1996-2000

Parliamentary Debate

Wage Guarantee

Employment Security

Legislation

The Corporations Law Amendment (Employee Entitlements) Act 2000 (Cth)

Intentionally Depriving Employees of Their Entitlements

Steel Tank and Pipe

Casualife

Fyna Group

Ramsey Food Processing

The Coogi Group

Uncommercial Transactions

Employees as Priority Creditors

3 Government Safety Net Schemes

History

The Special Scheme for Ansett Employees

GEERS and the Fair Entitlements Guarantee

Executive vs Legislated Scheme

Caps, Limits and Exclusions

Priority, Subrogation and the Requirement of Liquidation

Practical Issues Concerning GEERS and FEG

Extent of Payments under the EESS, GEERS and FEG

4 The Federal Government: after 2000

The Stocktake Report

Corporations Amendment (Insolvency) Act 2007 (Cth)

The Phoenix Proposals Paper and the Government's Responses

Phoenixing Act

Similar Names Bill

The Director Penalty Regime

Stronger Super and Other Measures Bill 2012

5 The Enforcement Roles of ASIC and DEEWR.

Introduction

ASIC

The Role of ASIC

ASIC's Actions to Assist Employees

Actions to Facilitate Access to GEERS and FEG

Actions to Protect Employee Entitlements

Disqualification

Other Actions

National Insolvent Trading Program

Assetless Administration Fund

ASIC Statistics

Comment on ASIC Enforcement

DEEWR

6 The Labour Law Response

The Availability of the Compensation Remedy

Litigation by the FWO

The Unions

Submissions and Contributions to the Political Debate

Union Interventions in Particular Insolvencies

Legal Actions

Ansett

One.Tel

Forgecast

Unions as Representatives of Employee Creditors

Industry Trust Funds

Other Labour Law Issues Affecting Employee Entitlements

7 Director Liability, Disqualification and Issues of Enforcement

Important Considerations in Imposing Liability on Directors for Unpaid Entitlements

Reform of Pt 5.8A

Directors' Duties

Reverse Onus

Liability for Defined Phoenix Activity

Director Liability under Stakeholder Statutes

Director Disqualification

General Issues of Enforcement

8 Encouragement towards Voluntary Administration and Liquidation

Background to Voluntary Administration

Voluntary Administration Compared with Liquidation

Should VA or Liquidation Be Encouraged for the Benefit of Employees?

How to Encourage Prompt Entry into VA or Liquidation

Corporate Resurrections and Prepackaged Administrations

9 Alternatives to Director Liability

Preventative Measures

Insurance Bonds and Bank Guarantees

Provision of Security

Preventing the Incorporation of Phoenix Companies

Union Involvement.

Recovery after Insolvency

Maximum Priority Proposal

Differential Priority Treatment of Employee Classes

Common Priority Regimes for Different Types of External Administration

Improvements to the Taxpayer-funded Safety Net Scheme

Special Recommendations for Corporate Groups

Contribution Orders

Doctrine of Inadequate Capitalisation

Veil-piercing and Shadow Director Liability

Compulsory Deeds of Cross-guarantee

Freezing Orders

Bibliography

Books

Chapters in Books

Journal Articles

Annual Reports

Australian Securities and Investments Commission Documents

Research and consultation papers

Reports

Regulatory Guides and Information Sheets

ASIC URLs

ASIC Advisories and Media Releases

Commonwealth Government Departments, Committees and Agencies

Discussion Papers

Other Federal Government Documents

International Documents

Australian Law Reform Commission, Royal Commission and Inquiry Reports

Media

Media Releases

Speeches

Submissions

URLs

Unpublished Works

Index.

Notes:

Description based on print version record.

Includes bibliographical references and index.

ISBN:

9780522865998

0522865992

OCLC:

1089010396