This book analyses corporate rescue laws, processes and policies prescribed in corporate insolvency or bankruptcy laws, and employment laws of the United Kingdom and the United States, with a particular focus on how extant employee rights are treated when a debtor employer initiates corporate insolvency proceedings.
The commencement of formal insolvency proceedings by an employer affects employees’ rights and interests. Employment laws seek to protect employees’ rights and interests, while insolvency laws seek to promote corporate rescue, which may entail workforce changes. Consequently, this creates a tension between whose interest insolvency law should give primacy of protection. The book analyses how corporate rescue processes such as administration, prepack business sales, company voluntary arrangements, receivership and liquidation impact employee rights and protection during corporate rescue proceedings in both jurisdictions. It goes on to address how the federal system of government in the US and the diffusion of power between federal – state law jurisdictions impact a uniform code of employee protection during Chapter 11 bankruptcy reorganisation proceedings. The book considers how an interpretative approach to law (Dworkin’s Interpretative Theory of Law) may be used to balance both employee protection and corporate rescue laws during corporate insolvency in the UK and the US.
Of interest to academics, students and employment law practitioners, this book examines the tension between corporate rescue laws and employment protection laws during corporate insolvency in the US and the UK and how this tension may be remedied or balanced.
Table of Contents
Table of Cases
List of Abbreviations
Chapter One Corporate Rescue and Employment protection – Concepts, Policies and Processes
Chapter Two Bankruptcy Legal Theory: The Traditionalist and Proceduralist Theoretical Models
Chapter Three Employee Rights under US Chapter 11 Bankruptcy Reorganisations
Chapter Four Institutional Challenges – The Federal v State Law Conundrum
Chapter Five Interpretation as a Balancing Tool in the US – Applying Dworkin
Chapter Six Employee Rights and Protection in the UK – TUPE Transfers and Business Sales
Chapter Seven Balancing Corporate Rescue and Employment Protection in the UK – Applying Dworkin
Chapter Eight: Conclusion – Latest legislative Developments and Substantive Matters
The credit crunch of 2007 and the ensuing financial crises have led to a renewed interest in the place of corporations in the modern world and the role of law and regulation in governing their behaviour. This series looks to survey the current developments within the field of corporate law as well as mapping out future opportunities for change. The series offers a comparative approach to the subject, looking not just at North America and Europe but also at the state of affairs elsewhere in the world. Written by influential scholars, the books offer thought-provoking and often critical analyses of corporate law. The functions and legal obligations and rights of multiple stakeholders including directors, investors, governments and regulators are examined from both empirical and theoretical standpoints. Whilst being grounded in law the series also draws upon research from the disciplines of economics, management studies, sociology and politics in order to explore the implications of corporate law in their wider social and economic context.