Bill C-253 (Historical)

An Act to amend the Bankruptcy and Insolvency Act and the Companies’ Creditors Arrangement Act (pension plans and group insurance plans)

This bill was last introduced in the 43rd Parliament, 2nd Session, which ended in August 2021.

Sponsor

Marilène Gill Bloc

Introduced as a private member’s bill. (These don’t often become law.)

Status

Report stage (House), as of June 21, 2021
(This bill did not become law.)

Summary

This is from the published bill. The Library of Parliament often publishes better independent summaries.

This enactment amends the Bankruptcy and Insolvency Act and the Companies’ Creditors Arrangement Act to ensure that claims in respect of unfunded liabilities or solvency deficiencies of pension plans and claims relating to the cessation of an employer’s participation in group insurance plans are paid in priority in the event of bankruptcy proceedings.

Elsewhere

All sorts of information on this bill is available at LEGISinfo, an excellent resource from the Library of Parliament. You can also read the full text of the bill.

Votes

May 12, 2021 Passed 2nd reading of Bill C-253, An Act to amend the Bankruptcy and Insolvency Act and the Companies’ Creditors Arrangement Act (pension plans and group insurance plans)

Industry, Science and Technology Committee, on May 25, 2021

Philippe Méla, Legislative Clerk
Clerk of the Committee, Mr. Michael MacPherson

Industry, Science and Technology Committee, on June 1, 2021

Michael Powell, President, Canadian Federation of Pensioners
Hassan Yussuff, President, Canadian Labour Congress
Dominic Lemieux, Director, District 5 - Québec, United Steelworkers
Trish McAuliffe, President, National Pensioners Federation
Nicolas Lapierre, Representative, Regional Office - Sept-Iles, United Steelworkers
Chris Roberts, Director, Social and Economic Policy, Canadian Labour Congress
Clerk of the Committee, Mr. Michael MacPherson

Industry, Science and Technology Committee, on June 3, 2021

Mark Zigler, Barrister, Solicitor and Partner, Koskie Minsky LLP, As an Individual
Charles Docherty, Assistant General Counsel, Canadian Bankers Association
Cody Cooper, President and Board Chair, Chrysler Canada Retirees
Gordon St-Gelais, President, Sept-Iles, Comité des retraités de Mines Wabush
Robert I. Thornton, Lawyer and Partner, Insolvency Institute of Canada
Clerk of the Committee, Mr. Michael MacPherson

Industry, Science and Technology Committee, on June 8, 2021

Laura Tamblyn Watts, President and Chief Executive Officer, CanAge
Brett Book, Policy Officer, CanAge
Tom Laurie, Director, GENMO Salaried Pension Organization
François L'Italien, Coordinator, Observatoire de la retraite
Kenneth Eady, Sears Retiree and Court-Appointed Representative of Sears Retirees, Store and Catalogue Retiree Group
Michael Powell, President, GENMO Salaried Pension Organization

Industry, Science and Technology Committee, on June 10, 2021

Jacques Maziade, Legislative Clerk
Mark Schaan, Associate Assistant Deputy Minister, Strategy and Innovation Policy Sector, Department of Industry

Industry, Science and Technology Committee, on June 15, 2021

Clerk of the Committee, Mr. Michael MacPherson
Mark Schaan, Associate Assistant Deputy Minister, Strategy and Innovation Policy Sector, Department of Industry
Paul Morrison, Manager, Corporate, Insolvency and Competition Directorate, Department of Industry

Industry, Science and Technology Committee, on June 17, 2021