An Act to amend the Bankruptcy and Insolvency Act and another Act in consequence (health-related benefit plans)

This bill was last introduced in the 40th Parliament, 3rd Session, which ended in March 2011.

This bill was previously introduced in the 40th Parliament, 2nd Session.

Sponsor

Wayne Marston  NDP

Introduced as a private member’s bill. (These don’t often become law.)

Status

Introduced, as of Dec. 3, 2009
(This bill did not become law.)

Summary

This is from the published bill. The Library of Parliament often publishes better independent summaries.

This enactment amends the Bankruptcy and Insolvency Act and the Companies’ Creditors Arrangement Act to accord disability and other health-related benefits the status of secure debts in the event of bankruptcy proceedings.

Elsewhere

All sorts of information on this bill is available at LEGISinfo, provided by the Library of Parliament. You can also read the full text of the bill.

Bankruptcy and Insolvency ActRoutine Proceedings

December 3rd, 2009 / 10 a.m.
See context

NDP

Wayne Marston NDP Hamilton East—Stoney Creek, ON

moved for leave to introduce Bill C-487, An Act to amend the Bankruptcy and Insolvency Act and another Act in consequence (health-related benefit plans).

Mr. Speaker, I would like to thank the member for Winnipeg North for her dedication to people with disabilities and for her support here today.

As the title of the bill says, this bill proposes to amend the Companies' Creditors Arrangement Act and the Bankruptcy and Insolvency Act, so that in the event a company goes into restructuring proceedings or bankruptcy, long-term disability plans as well as other health-related insurance plans go to the head of the line of preferred creditors to be paid out of an employer's assets.

In the debacle that has been Nortel, we have seen that company with assets in the billions of dollars take the decision not to fund the LTD. This is a disgraceful place that we find ourselves in Canada.

The NDP has done the footwork on this bill and we have tabled this bill in the House today to show the way for the government. We call upon the government and all opposition members to stand with us on this bill, do the right thing, move it forward, and pass it as soon as possible.

(Motions deemed adopted, bill read the first time and printed)