The Reminder is making its archives back to 2003 available on our website. Please note that, due to technical limitations, archive articles are presented without the usual formatting.
Bev Desjarlais has welcomed her fellow NDP MP Pat Martin's Private Member's Bill that calls for changes to Canada's bankruptcy laws. The bill aims to give employees protection for their wages, benefits and pensions in the event a company goes bankrupt. "It is outrageous that when a company goes bankrupt, banks and suppliers are paid almost in full while workers are left to wait at the bottom of the list of creditors, with almost no chance of being paid for work they have already completed," said Desjarlais. Desjarlais introduced a motion in 2003, which was narrowly defeated, that called for a similar change in legislation. See 'Canadians' P.# Con't from P.# There is widespread and growing support for these changes from both MPs as well as Canadians. The United Steelworkers of America also began lobbying MPs in support of these changes in the past few weeks. In polling conducted by Vector research for the Steelworkers, 89 per cent of Canadians said they agree that the present bankruptcy laws should be changed to better protect employees. Under present laws, a bankrupt company's taxes, lenders and suppliers are all paid before employees are paid their wages, benefits, vacation pay, severance pay or termination pay. Pensions are also put at risk. "Pensions are put at risk if, prior to bankruptcy, the company was not fully funding the pension fund. In cases like this, retired workers could face cutbacks to their pensions. It is just not right that people who have worked a lifetime for a company, have paid their taxes and made their pension contributions, could lose everything because there is no real protection for their pension plan. Workers deserve better," said Desjarlais. "I have great hopes that, with this new minority parliament, Pat Martin's legislation will pass and we can better protect Canadians."11/25/2004
