Legal Regulations Protection of Employees in the Event of the Insolvency of their Employer
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Abstract
After restoration of Independence in Lithuania the process of privatization has been meeting with great deal of violation of law: legal regulations concerning not only privatization but also further activity of enterprises, their inability to pay up the employees, the process of bankruptcy, protection of employees in the event of the insolvency of their employer. A great damage has been done not only to the country but employees were deceived as well. The list of the enterprises which are bankrupt or facing bankruptcy is getting longer and longer. At the same time the list of employees who are unpaid in full or in part is getting longer as well. This problem is very serious that’s who it needs legal regulation and it is necessary to reach a decision which is delayed up till now.
International standards provide protection of employees in the event of the insolvency of their employer. In order to regulate this problem the Seimas of Lithuania passed the Guarantee Fund Law on September 12th, 2000. However, this law has some shortcomings why it does not act. After removal of these obstructions it would be possible at least at the minimum to satisfy legitimate demands of employees if their employer becomes unpayable.
In this article not only international standards are being discussed on regulation of labor relations between an employee and the employer who becomes unplayable but also comparative analysis of the Guarantee Fund Law is presented, conclusions have been drawn and suggestions are affered concerning application special regulations.
International standards provide protection of employees in the event of the insolvency of their employer. In order to regulate this problem the Seimas of Lithuania passed the Guarantee Fund Law on September 12th, 2000. However, this law has some shortcomings why it does not act. After removal of these obstructions it would be possible at least at the minimum to satisfy legitimate demands of employees if their employer becomes unpayable.
In this article not only international standards are being discussed on regulation of labor relations between an employee and the employer who becomes unplayable but also comparative analysis of the Guarantee Fund Law is presented, conclusions have been drawn and suggestions are affered concerning application special regulations.
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Please see Copyright and Licence Agreement for further details.
