European Restructuring Monitor (ERM)
Eurofound's ERM database on restructuring-related legal regulations provides information on regulations in the Member States of the European Union and Norway which are explicitly or implicitly linked to anticipating and managing change.
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Employees, freelancers, home workers and apprentices (and their heirs or legal successors) are entitled to claims from the insolvency fund in cases of employer's insolvency/bankruptcy if a) employees are considered to be employed in Austria as defined in § 3 paragraph 1 or 2 (lit. a to d) of the general insurance act (Allgemeines Sozialversicherungsgesetz, ASVG), b) the insolvency procedure is opened in Austria and c) these claims have not yet been satisfied (IESG, § 1).
Insolvency is understood as:
Eligible are claims from:
if they arose up to six months before filing for insolvency, up to a maximum of twice the amount considered for social security ('[Höchstbeitragsgrundlage]https://www.gesundheitskasse.at/cdscontent/?contentid=10007.821072)'), which is adjusted each year.
Employees of the state, federal states (provinces) and municipalities, as well as those having decisive influence on the organisation are not eligible.
Claims based on an avoidable transaction ('anfechtbare Rechtshandlung') or applicants who were convicted for a crime related to the insolenvency (e.g., fraud, embezzlement, interception) are also not eligible.
Employees must apply within six months after the opening of insolvency proceedings. The claims will then be assessed. The assessment will include a consultation with the employer or insolvency administrator.
Payment is effected by the state-owned Insolvenz-Entgelt-Fonds-Service GmbH (IEF) which was specifically established for this purpose. The fund is financed by employers’ contributions and public funds. The employers' contribution amount is subject to change.
If an employer does not pay, this does not reduce the benefits of the employees in case of insolvency.
Annual data related to the insolvency fund, such as the number of applicants and disbursement, can be found in the IEF's Annual Financial Statements, available on its website.
Eurofound (2015), Austria: Wage guarantee in case of insolvency, Restructuring legislation database, Dublin, https://apps.eurofound.europa.eu/legislationdb/wage-guarantee-in-case-of-insolvency/austria
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