The Supreme Court of Canada has agreed to hear the Indalex Limited case, which will determine if underfunded pension plans should be treated as a priority when it comes time to liquidate the assets of a bankrupt company.
Although the case deals first and foremost with duties and priorities under the Ontario Pension Benefits Act (PBA) and corporate insolvency under the Companies’ Creditors Arrangements Act (CCAA), the Supreme Court’s pending decision has ramifications for organizations, creditors (lenders) and pension plans across Canada.
To know more, read my latest post on Slaw.
