Mr. Speaker, I have a petition signed by over 12,000 former employees of Nortel.
The petitioners call upon Parliament to amend the Companies' Creditors Arrangement Act and the Bankruptcy and Insolvency Act to protect the rights of all Canadian employees and to ensure that employees laid off by a company receiving pension or long term disability benefits during bankruptcy proceedings obtain preferred creditor status over other secured creditors.
They also call upon Parliament to amend the Investment Canada Act to ensure that employee-related claims are paid from proceeds of Canadian asset sales before funds are permitted to leave the country.