States of Jersey release White Paper on Insolvency Payments

04 DEC 2009

The States of Jersey have released a White Paper on an Insolvency Payments Scheme. As the release notes, "The purpose of the Insolvency Payments Scheme White Paper is to seek responses via public consultation on proposals from the Social Security Minister to introduce a statutory insolvency scheme. The scheme is intended to ensure that employees of insolvent businesses receive compensation based upon a reasonable proportion of the monies owed to them by their former employer (including unpaid wages, holiday pay, statutory notice pay, and statutory redundancy payments)."

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