Wage Earner Bankruptcy Protection Program comes into force

On July 7th, the Wage Earner Protection Program (hereinafter the "WEPP") came into force, as instituted by the Wage Earner Protection Program Act[1].

The WEPP applies to workers whose employers have been declared bankrupt or were placed under receivership as of July 7, 2008.

Filed under:
Canada, Employment & Labor, Insolvency & Restructuring, Dentons, Wage, Bankruptcy, Income tax, Beneficiary, Tax deduction, Severance package, Bankruptcy and Insolvency Act 1985 (Canada), Income-Tax Act 1961 (India)
Location:
Canada
Firm:
Dentons
The pension implications of the Wage Earner Protection Program

On July 7, 2008, the Wage Earner Protection Program Act (the "WEPPA") was proclaimed into force, along with complementary amendments to the Bankruptcy and Insolvency Act (the "BIA") and other related statutes. The new program protects a limited amount of the unpaid wages of employees when an employer becomes bankrupt or is placed into receivership, and the amendments to the BIA provide for the priority of some un-remitted pension contributions.

The Wage Earner Protection Program (the "WEPP")

Filed under:
Canada, Employment & Labor, Insolvency & Restructuring, Borden Ladner Gervais LLP, Wage, Bankruptcy, Income tax, Retirement, Remand (court procedure), Preferred stock, Severance package, Bankruptcy and Insolvency Act 1985 (Canada)
Location:
Canada
Firm:
Borden Ladner Gervais LLP