Glossary entry (derived from question below)
English term or phrase:
labour creditors
Serbo-Croat translation:
radnici poverioci / potraživanja radnika
Added to glossary by
Tamara Vlahovic Sanovic
Jun 12, 2013 16:52
10 yrs ago
English term
10-years World Bank experience, Sworn to
Native in: Serbian 
, Serbo-Croat
Works in: English to Serbo-Croat, Italian to Serbo-Croat, English to Italian, and 18 more.
labour creditors
English to Serbo-Croat
Bus/Financial
Business/Commerce (general)
Insolvency
labor creditors are superior to guaranteed creditors but with certain restrictions (in terms of time and amount); (iii) labor creditors come between dead securities and floating security; (iv) labor creditors do not enjoy any priority;
da li se labor creditors odnosi na potrazivanja zaposlenih u slucaju nesolventnosti poslodavaca?
Hvala puno
da li se labor creditors odnosi na potrazivanja zaposlenih u slucaju nesolventnosti poslodavaca?
Hvala puno
Proposed translations
(Serbo-Croat)
| 3 +1 | radnici poverioci / potraživanja radnika |
Daryo
|
References
| labour creditors |
Daryo
|
Proposed translations
+1
45 mins
Selected
radnici poverioci / potraživanja radnika
"potraživanja radnika" je razumljivije, možda je bolje preokrenuti tekst i to koristiti umesto "radnici poverioci"
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Note added at 46 mins (2013-06-12 17:39:48 GMT)
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poverioci po osnovu rada ?
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Note added at 46 mins (2013-06-12 17:39:48 GMT)
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poverioci po osnovu rada ?
4 KudoZ points awarded for this answer.
Comment: "hvala puno"
Reference comments
40 mins
Reference:
labour creditors
What weight is placed on employee or labour concerns in Latin America bankruptcy cases? How does this compare to the situation in the US and Europe, for example?
-- Beller: In Argentina, labour credits are privileged and are grouped in a separate category in an insolvency proceeding. The recent amendment of Law 24,522 increased the rights of the labour creditors, requiring prompter payment of amounts due, a greater involvement of the receiver in labour related matters, and the ability to pursue collection before the labour courts instead of the bankruptcy court, among other matters.
-- Bloom: We often advise creditor clients that this is perhaps one of the most striking differences in the priority of claims in the US and Latin America. In the US, employee wage claims do have priority over some other claims, but their priority is limited to $10,000. On the other hand, in Latin America, employee claims have much higher priority than in the US and there is often no statutory limit on the amount entitled to priority. Furthermore, many Latin American employees are entitled to statutory severance pay, vacation pay, and a ‘thirteenth month’ salary, which is a statutory annual bonus paid at the end of the calendar year. The size and priority of these statutory wage claims are deeply rooted in the constitutions of many Latin American countries, which typically provide a constitutional ‘right to work’ and a right to be paid for that work. While wages in Latin America may generally be less than in the US or Europe, these claims can still be substantial if the debtor is involved in a labour-intensive industry or has a significant number of employees that have been employed with the debtor for a long time. In some instances, the sheer weight of employee claims can preclude a successful restructuring, or at the very least, give unions a lot of leverage in the case. This may not come as much of a surprise to European creditors, who are often more accustomed to substantial statutory claims by employees ....
[http://www.gtlaw.com/portalresource/lookup/wosid/contentpilo... p.5-6]
-- Beller: In Argentina, labour credits are privileged and are grouped in a separate category in an insolvency proceeding. The recent amendment of Law 24,522 increased the rights of the labour creditors, requiring prompter payment of amounts due, a greater involvement of the receiver in labour related matters, and the ability to pursue collection before the labour courts instead of the bankruptcy court, among other matters.
-- Bloom: We often advise creditor clients that this is perhaps one of the most striking differences in the priority of claims in the US and Latin America. In the US, employee wage claims do have priority over some other claims, but their priority is limited to $10,000. On the other hand, in Latin America, employee claims have much higher priority than in the US and there is often no statutory limit on the amount entitled to priority. Furthermore, many Latin American employees are entitled to statutory severance pay, vacation pay, and a ‘thirteenth month’ salary, which is a statutory annual bonus paid at the end of the calendar year. The size and priority of these statutory wage claims are deeply rooted in the constitutions of many Latin American countries, which typically provide a constitutional ‘right to work’ and a right to be paid for that work. While wages in Latin America may generally be less than in the US or Europe, these claims can still be substantial if the debtor is involved in a labour-intensive industry or has a significant number of employees that have been employed with the debtor for a long time. In some instances, the sheer weight of employee claims can preclude a successful restructuring, or at the very least, give unions a lot of leverage in the case. This may not come as much of a surprise to European creditors, who are often more accustomed to substantial statutory claims by employees ....
[http://www.gtlaw.com/portalresource/lookup/wosid/contentpilo... p.5-6]
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