Conservative MP Marilyn Gladu rises during question period in the House of Commons in Ottawa on June 8, 2022.
The Senate on Tuesday passed legislation requiring the courts to prioritize pensioners when distributing assets in bankruptcy proceedings, paving the way for the bill to become law. Proposed by Sarnia MP Marilyn Gladu, the bill grants “super-priority” status to unfunded defined-benefit pensions when a company goes bankrupt.
“We’ve seen numerous instances where people that worked their whole life ended up not getting their pensions… they’ve got pennies on the dollar. So, this bill will address that,” Gladu explained in an interview.
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