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Insolvenzausfallgeld

English translation: Compensation for bankruptcy, bankruptcy compensation payment

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
German term or phrase:Insolvenzausfallgeld
English translation:Compensation for bankruptcy, bankruptcy compensation payment
Entered by: Raksha
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07:30 Jan 16, 2002
German to English translations [PRO]
Bus/Financial
German term or phrase: Insolvenzausfallgeld
Insolvency
Raksha
United States
Local time: 18:17
compensation for bankruptcy/ Bankruptcy compensation payment
Explanation:
3.3.3.D-iii.3 Bankruptcy compensation payment
(Konkursausfallgeld/Insolvenzgeld)

3.3.3.1. Aim
To secure the wages of employees for the last 3 months of employment before bankruptcy proceedings are instituted.

3.3.3.2. Legal basis
AFG as amended by the third amendment of 17.7.1974; from 1.1.1999: SGB III: (Labour Promotion Reform Act of 24 March 1997) Art. 82, § 83, § 5.

3.3.3.3. Contents
Bankruptcy compensation payment is granted by the competent Local Employment Office on application, i.e. the Employment Office responsible for the district in which the employer's wage accounts office for the employee in question is located (for further details, see next page).

3.3.3.4. Financial resources
The funds for bankruptcy compensation payments are raised each year by professional associations a posteriori by the imposition of a levy on employers and paid to the BA.

3.3.3.5. Institutional support
Bankruptcy compensation payment is granted by the BA.

HTH
Selected response from:

Poornima Iyengar
Local time: 04:47
Grading comment
Thanks for the detailed answer!
4 KudoZ points were awarded for this answer

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Summary of answers provided
5 +3compensation for bankruptcy/ Bankruptcy compensation payment
Poornima Iyengar
5compensation of deficiency by insolvency
Kathi Stock


  

Answers


49 mins   confidence: Answerer confidence 5/5 peer agreement (net): +3
compensation for bankruptcy/ Bankruptcy compensation payment


Explanation:
3.3.3.D-iii.3 Bankruptcy compensation payment
(Konkursausfallgeld/Insolvenzgeld)

3.3.3.1. Aim
To secure the wages of employees for the last 3 months of employment before bankruptcy proceedings are instituted.

3.3.3.2. Legal basis
AFG as amended by the third amendment of 17.7.1974; from 1.1.1999: SGB III: (Labour Promotion Reform Act of 24 March 1997) Art. 82, § 83, § 5.

3.3.3.3. Contents
Bankruptcy compensation payment is granted by the competent Local Employment Office on application, i.e. the Employment Office responsible for the district in which the employer's wage accounts office for the employee in question is located (for further details, see next page).

3.3.3.4. Financial resources
The funds for bankruptcy compensation payments are raised each year by professional associations a posteriori by the imposition of a levy on employers and paid to the BA.

3.3.3.5. Institutional support
Bankruptcy compensation payment is granted by the BA.

HTH


    Reference: http://www.ecotec.com/eeo/ersep/d_uk/00800185.htm
    Reference: http://www.ecotec.com/eeo/ersep/d_uk/00800027.htm
Poornima Iyengar
Local time: 04:47
Native speaker of: English
PRO pts in pair: 162
Grading comment
Thanks for the detailed answer!

Peer comments on this answer (and responses from the answerer)
agree  Krokodil: I'd go along with the second suggestion
1 hr

agree  Jacqueline McKay
2 hrs

agree  Ingrid Grzeszik: agree with Chameleon
4 hrs
Login to enter a peer comment (or grade)

51 mins   confidence: Answerer confidence 5/5
compensation of deficiency by insolvency


Explanation:
my instant guess

Kathi Stock
United States
Local time: 17:17
Native speaker of: Native in GermanGerman
PRO pts in pair: 789
Login to enter a peer comment (or grade)




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