Finance committee  Those were the rules under the temporary solvency relief measures. Those are not, to my knowledge, permanent rules that are being proposed here. You are right that in order to secure member buy-in for the ten-year amortization, a number of companies simply...especially those com

Finance committee  If you are considering a significant increase in public pensions, you have to set things in their proper context and look at the issue from different angles. First, regarding employers who integrate their own pension plan with a public one, it is clear that if you increase public

Finance committee  If you are referring to insolvency rules in other countries which govern companies that go bankrupt, then I am obviously not in a position to answer your question. However, what I can say is that if you look at the rules governing creditor hierarchy in other countries, you also h

Finance committee  First, that statement is based on what CFOs and the companies I mentioned—

Finance committee  On the one hand, I don't have any specific figures for you, but it is clear to me, based on my 40 years of experience practising law, that when credit arrangements are made, interest rates are negotiated based on current rules governing insolvency. If you give priority to a group

Finance committee  The group I represent wants 10 years to amortize their solvency deficit. The government proposed moving away from the five-year rule and using other means to evaluate solvency, such as basing funding requirements on a three-year average. That's a step in the right direction. It'

Finance committee  Listen, it is clear that...

Finance committee  The 2010 budgets have been completed. They are as we say cast in stone. Obviously, companies—at least those I represent—did not wait for the rules, which were announced last October, to come into force before they completed their budgets. Actually, in that sense, I don't think w

Finance committee  It's very difficult to answer that question in a simple way. I'll explain myself. Changing the insolvency rules will definitely impact the credit arrangements existing today if these changes are made applicable immediately upon their adoption. So if we're talking about implemen

Finance committee  Good afternoon. My name is Michel Benoit. I am with the law firm Osler Hoskin & Harcourt. I am appearing today before this committee on behalf of six federally regulated companies, namely Bell Canada, Canadian National Railway, Canadian Pacific Railway Limited, Canada Post,