Russia will ratify the convent for protection of workers of insolvent enterprises

The Government of Russia introduced the convent “Protection of workers’ demands in case of insolvency of employer” to the State Duma for ratification. Russia will become the 20th country, ratifying such convent. This document had been approved in Geneva during the session of the International Labor Organization’s General Conference on June 23, 1992, and has come into force in June 1995.

According to the convent the state has to provide for the norms for protection of workers’ demands in the national legislation - either in privileged order or with the help of special guarantee institutions. Russia takes the obligations for protection of working people’s demands by means of a privilege on itself.

“Ratification of the convent will support the norm of Russian legislation “About bankruptcy” – the acting director of the State Labor Inspectorate in RB Andre Tsibizov commented this new initiative – “the demands of workers of insolvent enterprises concerning payment of salaries and severance wages are satisfied in the second turn after completion of all settlements with the citizens, which the debtor bears responsibility before for damnification. Thereby the privilege of workers’ demands before demands of debtees is fixed in the law”.