The Supreme Court of Canada has agreed to hear the Indalex Limited case, which will determine if underfunded pension plans should be treated as a priority when it comes time to liquidate the assets of a bankrupt company.
Although the case deals first and foremost with duties and priorities under the Ontario Pension Benefits Act (PBA) and corporate insolvency under the Companies’ Creditors Arrangements Act (CCAA), the Supreme Court’s pending decision has ramifications for organizations, creditors (lenders) and pension plans across Canada.
To know more, read my latest post on Slaw.
Managing Editor at First Reference Inc.
Marie-Yosie Saint-Cyr, LL.B., is a trained lawyer called to the Quebec bar in 1988 and is still a member in good standing. She practiced business, employment and labour law until 1999. For over 20 years, Yosie has been the Managing Editor at First Reference. She manages the PolicyPro Human Resources and Internal Controls editions, The Human Resources Advisor editions, PaySource and the HRinfodesk news service as well as the blogs. Marie-Yosie (a.k.a. Yosie) is a recognized and respected author, with an extensive background in human resources, employment and labour across the country.
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