Russia Ratifies Insolvency Protection Convention

Outgoing Russian President Dmitry Medvedev signed on Tuesday a crucial bill ratifying an international treaty which protects workers from employers’ insolvency, his press service said.

Russia became the 20th country to ratify the Intenational Labor Organization (ILO) Convention C173, which requires member states to provide for the protection of workers’ claims in situations of insolvency.

It will come into force twelve months within the date on which the ratification is registered with ILO Director-General Juan Somavia.


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