Industry committee  Thank you for the question. I won't comment specifically on the Nortel situation. I'm not sure what you mean by what I would suggest in order to fix the bill. If you're saying that the problem with the bill—

Industry committee  Do you mean the problem of protecting pensions?

Industry committee  I agree with Mr. Laver that Parliament has already done a lot, and most provincial jurisdictions are also embarking on very substantial pension reform. In my view, that's the way to go about it, to make sure that the ongoing pension system can address these problems, to make sure

Industry committee  Sure. Thank you. The concern is that even if we assume the bill as it may be amended is confined only to payments that are missed, pension plan deficits have to be funded over time. As we all know, restructuring can take a long time, so from the time a company goes under CCAA pr

Industry committee  Ask me again. I'll tell you the other concern.

Industry committee  Thank you for the question. I have two concerns about that. First of all, the bill could perhaps be clearer on the point. I understand that it could be interpreted just to apply to missed special payments at the time of bankruptcy. I have a couple of concerns about that, just f

Industry committee  I understand what you're saying and I understand that it could be interpreted to just apply to those payments, so there are two other concerns there. First of all, Parliament is already passing Bill C-9, which deals with other ways to strengthen the pension system, at least on th

Industry committee  Thank you. Good morning. My name is Douglas Rienzo. I'm a partner with the law firm of Osler, Hoskin & Harcourt. I'd first like to extend to the committee our appreciation for the opportunity to appear before you and to contribute to the work of the committee studying Bill