Fulltext Search
WEPPA amendments may eliminate key bankruptcy eligibility period

The definition of “eligible wages” under theWage Earner Protection Program Act1 (“WEPPA”) was amended on December 15, 2011. Under the original definition, employees could claim under the wage earner protection program (“WEPP”) for payment of wages earned during either (i) the six-month period ending on the date of bankruptcy of the former employer, or (ii) the six-month period ending on the first day on which there was a receiver in relation to the former employer. The definition did not deal with CCAA or BIA restructurings.

Canada, Employment & Labor, Insolvency & Restructuring, Cassels Brock & Blackwell LLP, Wage, Bankruptcy
Traps for the unwary – secured creditor obligations under the Wage Earner Protection Program

As we warned in our earlier articles, “Wage Earner Protection Program Act Comes Into Force - Secured Creditors Be Wary” and “Extension of the WEPPA – Further Protection for Employees”, the Wage Earner Protection Program Act (the “WEPPA”) took eff

Canada, Employee Benefits & Pensions, Insolvency & Restructuring, Cassels Brock & Blackwell LLP, Wage, Bankruptcy, Debtor, Accounts receivable, Accounting, Personal property, Secured creditor, Bankruptcy and Insolvency Act 1985 (Canada)
The new employee super-priority - new issues for secured creditors

For the first time ever in Canada, super-priority rights have been given to employees which will take priority over existing secured creditors.

Canada, Employee Benefits & Pensions, Insolvency & Restructuring, Litigation, Cassels Brock & Blackwell LLP, Bond market, Wage, Bankruptcy, Credit (finance), Debtor, Accounts receivable, Income tax, Tax deduction, Secured creditor, Leverage (finance), Bankruptcy and Insolvency Act 1985 (Canada)