It's important to remember that in CCAA proceedings, the creditors and the sponsors could use the fear of losing everything in liquidation to extract devastating cuts for plan members. Pensioners and other plan members, to the extent that they even know this is happening, are in a very difficult position. They have no bargaining power. We saw this in Laurentian University, which is a great example. The fear of being at the end of the queue in a bankruptcy and liquidation situation gives them no ability to resist truly draconian cuts to their pension benefits.
What we're asking here is to give plan members a bit of bargaining power in the restructuring process so that, yes, companies can restructure as a growing concern, but not solely or primarily on the backs of plan members.