Industry committee  The severance claim for Nortel is $165 million. The lawyer fees are expected to be over $300 million. If we just change the law to give us our severance when we get laid off, we'd save the creditors a lot of money and everything would be much better.

Industry committee  If I could sum it up, Paul, what I've learned is this: trust no one. Two months before our company declares bankruptcy, our CIO stood in front of the whole company, and when asked if there was any chance we could be going bankrupt, answered, “No, there is no chance. We have mon

Industry committee  From our perspective of being severed, we had an opportunity to extract what pension we could as we got severed. I think an approach whereby a pension is being managed to give an option to some of the pensioners is a good possibility. If the companies funded the pensions properly

Industry committee  Good afternoon. Let me first thank the committee for inviting me to participate in this very important discussion. I appreciate that you must deal with many complex issues affecting many people in different ways and that laws must be changed very carefully and thoughtfully. The

Industry committee  This reasonable and necessary benefit serves to attract the talent needed to provide a strong, effective government for this great country. By allowing CCAA to lump severance in with unsecured creditor claims, the value of severance for building strong companies is being lost, an

Finance committee  We're just asking to be above the unsecured, first in the list of the unsecured, because the rest of the unsecured have all the leverage; we have none.

Finance committee  I'd really like to understand the arguments against changing this. I haven't heard any, so I would like to hear them. If anyone can offer them, please do.

Finance committee  Yes.

Finance committee  No.

Finance committee  We don't want to be super-priority; we just want to be above all the people who have the leverage we don't have.

Finance committee  Yes.

Finance committee  I believe so.

Finance committee  I don't know if that's true.

Finance committee  Sure.

Finance committee  Yes.