As we previously wrote about (Volume 1, Issue 3, December 2008), the Wage Earner Protection Program Act (“WEPPA”) came into force on July 7, 2008 as part of a comprehensive reform package to the Bankruptcy & Insolvency Act (“BIA”). WEPPA was designed to protect the wages of employees terminated as a result of a bankruptcy or receivership. Employees could now claim up to $3,000 worth of wages earned in the six months immediately preceding the bankruptcy or receivership, as well as a $2,000 super priority claim on all current assets of their employer.
Canada, Employment & Labor, Insolvency & Restructuring, Miller Thomson LLP, Wage, Bankruptcy, Unsecured debt, Trade union, Secured creditor, Severance package, Companies' Creditors Arrangement Act 1933 (Canada), Employment Standards Act 2000 (Ontario) (Canada), Court of Appeal of England & Wales