Mr. Speaker, I am pleased today to present, along with other members of the House, a petition from hundreds of Canadians concerned with the Conservative government's response to the announced sale of Nortel.
As members are surely aware, thousands of Nortel employees and supporters joined us in Ottawa today for a demonstration on Parliament Hill to present this important issue to all of us.
This petition calls for necessary changes to the Companies' Creditors Arrangement Act, the Bankruptcy and Insolvency Act and the Investment Canada Act. These changes will require us to protect the rights of all Canadians, especially those who are facing employment difficulties as companies go through restructuring. They will ensure that during bankruptcy, employees who are receiving pensions or long-term disability benefits obtain preferred-creditor status.
Furthermore, the petitioners ask that any employee-related claims be paid from the proceeds of Canadian asset sales before those funds are permitted to leave the country.
It is a privilege to present this petition today and to honour those members of Nortel who are in the gallery today.