A comparative study of the effects of liquidation or business rescue proceedings on the rights of the employees of a company
Whenever legal disciplines overlap interesting scenarios occur and differences in opinions create intellectual tension. One such interesting scenario occurs when employees’ rights are affected during a company’s liquidation or business rescue. The employees of a company are normally the last persons...
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Online Access: | Joubert, Engela Petronella (2018) A comparative study of the effects of liquidation or business rescue proceedings on the rights of the employees of a company, University of South Africa, Pretoria, <http://hdl.handle.net/10500/25092> http://hdl.handle.net/10500/25092 |
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ndltd-netd.ac.za-oai-union.ndltd.org-unisa-oai-uir.unisa.ac.za-10500-250922018-12-01T04:13:54Z A comparative study of the effects of liquidation or business rescue proceedings on the rights of the employees of a company Joubert, Engela Petronella Loubser, Anneli Business rescue Employees Employee rights Liquidation Voluntary administration Administration Company Employment contract Ranking of claims Reorganisation 346.662068 Employee rights -- South Africa Employee rights -- Australia Employee rights -- Great Britain Bankruptcy -- South Africa Bankruptcy -- Australia Bankruptcy -- Great Britain Liquidation -- South Africa Liquidation -- Australia Liquidation -- Great Britain Corporate reorganizations -- Law and legislation -- South Africa Corporate reorganizations -- Law and legislation -- Australia Corporate reorganizations -- Law and legislation -- Great Britain Whenever legal disciplines overlap interesting scenarios occur and differences in opinions create intellectual tension. One such interesting scenario occurs when employees’ rights are affected during a company’s liquidation or business rescue. The employees of a company are normally the last persons to find out that a company is struggling financially. They are also the only stakeholders who are in no position to negotiate their risk should the company be liquidated. It is therefore necessary to evaluate the rights given to employees during a company’s liquidation and business rescue. The fundamental ideologies of company law, insolvency law and labour law are challenged and examined to attempt a harmonizing result that respects the core of each discipline. It is crucial to determine whether an appropriate balance is struck between the interests of all the stakeholders of the company during these procedures. The aim of this thesis is to evaluate whether South Africa manages to strike this balance. If employee rights are protected whilst a company is restructured back to solvency and success, this balance will be struck. An evaluation will also be made whether employees are always better protected during business rescue than in liquidation. The study analyses employee rights in a company’s liquidation and during a company’s restructuring process. The comparative study of employee rights in liquidation and rescue is done with the jurisdictions of Australia and England – countries with similar procedures. Important conclusions show that South Africa protects employee rights during business rescue procedures the best. An appropriate balance is indeed struck between the interests of all stakeholders of a company during business rescue procedures and employees are most of the time better off after a restructuring than in a liquidation. Should the recommendations for law reform be implemented in our legislation, South Africa will overcome the few obstacles currently in its way to be seen as a world leader where employee rights are concerned in liquidation proceedings as well as business rescue. Mercantile Law LL. D. 2018-11-29T09:12:40Z 2018-11-29T09:12:40Z 2018-07 2018-11-29 Thesis Joubert, Engela Petronella (2018) A comparative study of the effects of liquidation or business rescue proceedings on the rights of the employees of a company, University of South Africa, Pretoria, <http://hdl.handle.net/10500/25092> http://hdl.handle.net/10500/25092 en 1 online resource (x, 220 leaves) |
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Business rescue Employees Employee rights Liquidation Voluntary administration Administration Company Employment contract Ranking of claims Reorganisation 346.662068 Employee rights -- South Africa Employee rights -- Australia Employee rights -- Great Britain Bankruptcy -- South Africa Bankruptcy -- Australia Bankruptcy -- Great Britain Liquidation -- South Africa Liquidation -- Australia Liquidation -- Great Britain Corporate reorganizations -- Law and legislation -- South Africa Corporate reorganizations -- Law and legislation -- Australia Corporate reorganizations -- Law and legislation -- Great Britain |
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Business rescue Employees Employee rights Liquidation Voluntary administration Administration Company Employment contract Ranking of claims Reorganisation 346.662068 Employee rights -- South Africa Employee rights -- Australia Employee rights -- Great Britain Bankruptcy -- South Africa Bankruptcy -- Australia Bankruptcy -- Great Britain Liquidation -- South Africa Liquidation -- Australia Liquidation -- Great Britain Corporate reorganizations -- Law and legislation -- South Africa Corporate reorganizations -- Law and legislation -- Australia Corporate reorganizations -- Law and legislation -- Great Britain Joubert, Engela Petronella A comparative study of the effects of liquidation or business rescue proceedings on the rights of the employees of a company |
description |
Whenever legal disciplines overlap interesting scenarios occur and differences in opinions create intellectual tension. One such interesting scenario occurs when employees’ rights are affected during a company’s liquidation or business rescue. The employees of a company are normally the last persons to find out that a company is struggling financially. They are also the only stakeholders who are in no position to negotiate their risk should the company be liquidated. It is therefore necessary to evaluate the rights given to employees during a company’s liquidation and business rescue. The fundamental ideologies of company law, insolvency law and labour law are challenged and examined to attempt a harmonizing result that respects the core of each discipline. It is crucial to determine whether an appropriate balance is struck between the interests of all the stakeholders of the company during these procedures.
The aim of this thesis is to evaluate whether South Africa manages to strike this balance. If employee rights are protected whilst a company is restructured back to solvency and success, this balance will be struck. An evaluation will also be made whether employees are always better protected during business rescue than in liquidation.
The study analyses employee rights in a company’s liquidation and during a company’s restructuring process. The comparative study of employee rights in liquidation and rescue is done with the jurisdictions of Australia and England – countries with similar procedures.
Important conclusions show that South Africa protects employee rights during business rescue procedures the best. An appropriate balance is indeed struck between the interests of all stakeholders of a company during business rescue procedures and employees are most of the time better off after a restructuring than in a liquidation. Should the recommendations for law reform be implemented in our legislation, South Africa will overcome the few obstacles currently in its way to be seen as a world leader where employee rights are concerned in liquidation proceedings as well as business rescue. === Mercantile Law === LL. D. |
author2 |
Loubser, Anneli |
author_facet |
Loubser, Anneli Joubert, Engela Petronella |
author |
Joubert, Engela Petronella |
author_sort |
Joubert, Engela Petronella |
title |
A comparative study of the effects of liquidation or business rescue proceedings on the rights of the employees of a company |
title_short |
A comparative study of the effects of liquidation or business rescue proceedings on the rights of the employees of a company |
title_full |
A comparative study of the effects of liquidation or business rescue proceedings on the rights of the employees of a company |
title_fullStr |
A comparative study of the effects of liquidation or business rescue proceedings on the rights of the employees of a company |
title_full_unstemmed |
A comparative study of the effects of liquidation or business rescue proceedings on the rights of the employees of a company |
title_sort |
comparative study of the effects of liquidation or business rescue proceedings on the rights of the employees of a company |
publishDate |
2018 |
url |
Joubert, Engela Petronella (2018) A comparative study of the effects of liquidation or business rescue proceedings on the rights of the employees of a company, University of South Africa, Pretoria, <http://hdl.handle.net/10500/25092> http://hdl.handle.net/10500/25092 |
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