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영어

“Debtor Rehabilitation and Bankruptcy Act (the ”integrated insolvency law“)” from 2006.4.1. protects the wages by classifying them into the claim for public interests or foundation claim. However with the corporate rehabilitation or bankruptcy proceeding, the important objectives such as fair bond satisfaction are considered and as a result, preferential payment right is placed at the center of controversy. There are no established theories and few precedents exists for the wage protection with bankruptcy proceedings in integrated insolvency law and labor laws. Even though Labor Standards Act stipulates that the wages of three months before retirement are protected in priority more than other bonds, if this provision is not reflected, the wage protection become difficult. Bankruptcy and labor relations issues have the significant meanings at the point of protecting the corporate reconstruction. Itis hard for the workers to know whether the auction of bankruptcy company has started and thus when to request for the dividend in the case when workers does not take hold to the procedures for preservation of property. This is criticized for such failure to achieve the purpose of prior payment of wages bond and thus the systemic supplement is required. Labor Standards Act divides the priority of wage claim reimbursement into the top-prior payment and prior payment. Civil Execution Act or integrated bankruptcy act doesn't have such provisions and the uniform legislative provisions are required.