Industry committee  If I may, the problem is not with Bill C-501, it is with the other legislation that would then push those special payments—

Industry committee  Unfortunately, Bill C-9 is something that has already passed and is already law. Certain provisions of Bill C-9 could bring about an acceleration of the payments in an insolvency situation. That brings the entirety of the deficit into play at that point. Even though we are abso

Industry committee  I mentioned severance in my presentation, and there would indeed be a major impact on credit in general and it would be particularly pronounced—

Industry committee  We can't quantify it because we don't yet know how it would be interpreted by the market. What is particularly disturbing about severance is that we don't know how much there is. It obviously depends on the business and on circumstances; it could range from one week to 42 weeks'

Industry committee  As Mr. Farrell said, because there is no retroactivity, this bill will not help the Nortel employees, unfortunately. The issue of pensions is one that permeates the entire economy. It's not only the Nortel employees. They're the ones who are in the forefront, and we hear of them

Industry committee  Given its mission, CAIRP has cooperated closely in the insolvency reform since 1992 and, more particularly, as consultants on preparation of the act adopted in 2007. It was with that in mind that we prepared our brief on the various bills tabled in the House of Commons and Senate

Industry committee  —who constitute groups of vulnerable creditors who depend on their employers and who do not have independent means to monitor and control their risks of loss. It is important that the statutes as a whole be designed to limit the impact that employers' financial difficulties have

Industry committee  The purpose of the second measure is to extend statutory priority for salary claims to claims for separation pay. Parliament has previously considered protection for salary claims but specifically excluded severance and separation pay under the BIA and preferred to protect severa