“Superpriority” for pension deficits is here

Keeping a finger on the pulse of emerging practices and trends in restructuring and insolvency will remain vital for organizations, as an uncertain market continues to keep business leaders wary. Join Torys’ Corporate Restructuring and Advisory team for this series as they address key aspects of restructuring in the current environment as well as updates from latest in the insolvency courts, and beyond.

“Superpriority” for pension deficits is here

As Bill C-228 aims to amend Canada’s bankruptcy, insolvency and restructuring legislation to create a statutory “superpriority” for registered pension plan deficits, it creates unintended impacts for companies with defined benefit plans and lenders to companies with such plans and could restrict credit availability. While minimizing cuts to retiree pensions when an insolvent employer cannot fully fund its defined benefit pension plan is the goal of this legislation, it may also have the knock-on effect of prompting companies who have not already done so to eliminate their defined benefit plans.

Join members of Torys’ Pensions and Employment, and Insolvency groups for the third session in this series as they discuss the implications of and uncertainties related to these legislative amendments and how they will impact lenders, plan sponsors and employees.

This session will be presented in English.

Time: 12:00 p.m. – 1:00 p.m. ET Presentation
11:45 a.m. ET Webinar opens

Ontario: This program is eligible for 60 Substantive minutes.
New York: This program contains 1.0 Areas of Professional Practice credit. This course content is appropriate for transitional and non-transitional attorneys.

Be sure to check out the other sessions in this series over at torys.com/webinars.