CLC Supports Bill C-253 to Protect Workers in Business Insolvency

The Canadian Labour Congress is pleased that MPs are taking action that prioritizes workers and retirees when a company files insolvency proceedings by passing Bill C-253, introduced by MP Marilène Gill, for consideration by a parliamentary committee. 

After a life of hard work, no one should have a hard time making ends meet during retirement. Bill C-253 addresses many of the concerns that advocates have expressed regarding the Companies' Creditors Arrangement Act (CCAA) and the Bankruptcy and Insolvency Act (BIA). It amends the CCAA and the BIA to ensure that workers' wages, pensions and benefit plans are funded before bonuses and shareholder payments. 

Read the full CLC statement here.