Indian Court Protects Employees’ Payments During Liquidation Proceedings

The Supreme Court of India (“SC”) has held that in the event of liquidation of a company, claims of employees have to be considered by the Official Liquidator of the company and not by the Debt Recovery Tribunal (“DRT”). The SC made this decision in the case of Bank of Maharashtra v. Pandurang Keshav Gorwardkar & Ors.1, and laid down certain rules for deciding employee claims.
Facts
Paper and Pulp Conversions Limited (‘Company’) had taken a loan […]

By | August 7th, 2013 ||

Retirement Plan Fees—Yale Law School Professor Causes Stir

A Yale Law School professor recently raised hackles in the benefits community by sending unsolicited letters to thousands of retirement plan sponsors.  Ian Ayres, who is the William K. Townsend Professor at Yale Law School, is studying the financial impact of investment and administrative fees in retirement plans.  Using data from Forms 5500 filed for the 2009 plan year, Prof. Ayres identified plans that he believes have excessive costs.

Over the past few weeks, Prof. […]

By | July 30th, 2013 ||

Romania: New Proposals For Amending The Romanian Labour Code

Not happy with the latest amendments to the Labour Code, trade unions are striving to change the situation in their favour.
Employees against employers
Only one year from the latest important changes to the Romanian Labour Code, one of the country’s biggest trade unions drafted a project for amending again the Labour Code. The project is co-financed by the European Social Found though the Operational Programme for Human Resources Development 2007 – 2013.

The trade unions see […]

By | July 27th, 2013 ||