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Insolvent Companies And Bankrupt The Country National Workers Incorporated Companies Controlled Recovery Procedures

Original Language Title: Maksātnespējīgo valsts uzņēmumu un maksātnespējīgo valsts kontrolēto statūtsabiedrību darbinieku prasījumu apmierināšanas kārtība

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The Republic of Latvia Cabinet of Ministers 1998 regulation on 27 January. 34 in Riga (4.23. ¤) of insolvent companies and bankrupt the country national workers incorporated companies controlled recovery order issued in accordance with the law "on insolvency of undertakings and companies" of the transitional provisions of paragraph 11 i. General provisions 1. Mia "terms used: 1.1. State control of incorporated companies-incorporated companies in which the State owns more than 50 percent of the capital of incorporated companies;
1.2. the bankrupt-a public company or a State-controlled Court in incorporated companies, which in accordance with the law on the insolvency of undertakings and companies "declared insolvent;
1.3. transitional period-the period up to 31 December 1998;
1.4. the employee claims-bankruptcy claims by employees arising from employment relations, as well as compulsory social insurance contributions and social tax debt (hereinafter mandatory contributions);
1.5. national capital-shares, shares, shares, which incorporated companies with private capital for er State;
1.6. insurance service-full years in the period for which the person is committing or has committed to compulsory contributions.
2. these rules provide: 2.1. arrangements for the transitional period is satisfied the employee claims of insolvent companies in cases where the law "on insolvency of undertakings and companies" and other laws and are intended to meet these claims, but the bankrupt fails to satisfy these claims;
2.2. the arrangements for the transitional period in features to satisfy the claims of employees.
II. presentation of the bankrupt's employees claims and order 3. employee claims are satisfied in the following cases: 3.1 if a public company or incorporated companies have been placed under the State privatization of the cabinet order;
3.2. If a public company put the privatization of the cabinet order and the process of privatization of State transformed incorporated companies;
3.3. If the State passed a privatization of the incorporated companies with a cabinet order in the process of privatization and transformed into a public company;
3.4. If State-controlled state of incorporated companies the shares transferred to the privatization of the cabinet order;
3.5. If the State controlled national capital incorporated companies have built up the State budget should include the tax payments as a result of the capitalization of the principal sum.
4. employees of insolvent companies which have terminated, the employee claims are satisfied in the following order (while under the law by paying the costs associated with individual income tax payments and payments): 4.1 the compensation for an accident at work or an occupational disease contracted in accordance with the provisions of paragraph 5;
4.2. the salary for the first three months after the end of the wage cost;
4.3. mandatory contributions in accordance with the provisions of paragraph 7;
4.4. severance pay due to the ending of the employment relationship.
5. in the context of compensation for an accident at work or an occupational disease recoverable: 5.1. debt for the period between the incurrence of the debt to the State or national recognition for incorporated companies controlled insolvent;
5.2. the arrears for the period between the State enterprise or State recognition of incorporated companies controlled bankrupt until the termination of the employee;
5.3. the amount of compensation for three years ahead, after the termination of the employee.
6. These rules 5.1 and 5.2 show referred to paid employees, but the amount referred to in point 5.3 of the social insurance contributions in special budgets.
7. Mandatory contributions shall be made on the following bankruptcy employees: 7.1 if on the day when the employee terminated until retirement age had no more than a year, and if the person has been granted a pension, without taking account of insurance seniority accumulated in the insolvent company payment of the debt;
7.2. If the employee is terminated or the national public company incorporated companies to insolvency during the initiation of bankruptcy proceedings or after the commencement of bankruptcy proceedings to ensure the right to unemployment benefit;
7.3. If employee after termination of the provision of compensation for an accident at work or an occupational disease.
III. The order in which you get the means to satisfy the claims of employees 8. Features to satisfy the claims of employees are obtained by selling the company convertible shares of State-owned enterprises, as well as incorporated companies (if these are sold, the capital of the incorporated companies) of the capital.
9. The rules referred to in paragraph 8, the amounts of the shares sold is determined by the Privatization Agency, affirming the State property privatization of objects of rules, but sold the shares cannot exceed ten percent of the share capital of privatizējam incorporated companies.
IV. the claims reimbursement procedure 10. According to the provisions of the employee s š claims and upheld mandatory contributions only from those to be provided for the purpose of selling the shares obtained as a result of funding.
11. The privatization agency meet employee claims this provision in paragraph 4, the order specified, as well as the costs related to individual income tax payments and payments.
12. the employee claims to meet privatisation Agency, submit the bankrupt administrator or its authorized person.
13. the recovery order shall determine the rules that are approved for the privatisation Agency in paragraph 134 of the Statute.
V. claim of employees to satisfy the repayment of the funds spent by the privatisation agency 14. Bankruptcy administrator is obliged by the acquisition of funds according to the law "on insolvency of undertakings and companies ' creditors laid down in article 107 of the sequence satisfy the privatisation Agency to repay amounts under those provisions, it has paid.

15. If the insolvency solutions are approved or reorganisation of the composition, the privatisation Agency's repayment of amounts paid in settlement or insolvency should be provided in the plan.
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