The interpretative approach to bankruptcy law Remedying the theoretical limitations in the traditionalist and the proceduralist perspectives on corporate insolvency

摘要

Purpose - This paper aims to highlight how an interpretative approach to law as posited by Dworkin may be used to remedy the tension between employment protection and corporate rescue laws. Design/methodology/approach - This paper adopts a doctrinal and theoretical approach to law. Findings - The tension between corporate rescue and employment protection laws affects both employees' and business owners' policy objectives on corporate insolvency. The theoretical perspectives of both the traditionalists and proceduralists have so far failed to provide a clear approach on how this tension may be balanced or remedied. This paper proposes that this tension may be remedied through interpretation, that is, by adopting Dworkin's Interpretative Approach to Law. Originality/value - Most researchers and academics have written extensively about the tension between corporate rescue and employment protection, but this paper is the first of its kind to propose a remedy to this tension through interpretation.