On January 25, 2017, the British Columbia Supreme Court rendered its decision in Tudor Sales Ltd. (Re), 2017 BCSC 119.
Canada, British Columbia, Insolvency & Restructuring, Litigation, McCarthy Tétrault LLP, Bankruptcy, Shareholder, Debt, Unsecured creditor, Bankruptcy and Insolvency Act 1985 (Canada), British Columbia Supreme Court
The Wage Earner Protection Program: protection of workers’ wages in the event of employer insolvency
On December 14, 2007, Bill C-12 was given Royal Assent. The Bill involves a comprehensive reform of Canada’s insolvency system. A key component of these reforms was the creation of the Wage Earner Protection Program (WEPP). The WEPP provides statutory wage protection for workers when a) their employer becomes bankrupt or subject to a receivership, and b) their employment is terminated as a result.
Canada, Employment & Labor, Insolvency & Restructuring, McCarthy Tétrault LLP, Wage, Bankruptcy, Debtor, Unsecured debt, Due diligence, Unemployment benefits, Annual leave, Preferred stock, Unsecured creditor, US Federal Government, Innovation, Science and Economic Development Canada