Mr. Speaker, again, I would like to present another petition from constituents in my riding of Mississauga South who are Nortel retirees, pensioners or those who receive benefits under that plan for a long-term disability. It is a very serious situation.
The petitioners would like to bring to the attention of Parliament that they wish to amend the Companies' Creditors Arrangement Act and the Bankruptcy and Insolvency Act to protect the rights of all Canadian employees to ensure that employees laid off by a company, who receive a pension or a long-term disability benefit during bankruptcy proceedings, obtain preferred creditor status over other secured creditors. They also ask that the Bankruptcy and Insolvency Act be amended to ensure that employee-related claims are paid from the proceeds of Canadian asset sales before funds are permitted to leave the country.
It is a very serious situation. I hope the government will heed these petitioners.