The Supreme Court of Canada will weigh into the high-stakes debate about whether pension plan members have a claim on an insolvent company’s assets to cover shortfalls in their plan.
The court announced Thursday it has agreed to hear an appeal of a landmark Ontario court ruling that reversed the traditional pecking order for distributing corporate assets when a company goes bankrupt. The June decision by the Ontario Court of Appeal concluded former employees of aluminum processor Indalex Ltd. had a priority claim on their company’s assets to fund a shortfall in their pension plan.
------------------------------------------------
D - This is significant. If the world economy crashes then Canada will get mired in it too. Regardless, Ontario's manufacturing sector is being gutted by the strong dollar, which has been increased by western commodity exports, primarily to support the Chinese these past few years.
My roomie pointed out that the glory days of the stock market will be past once Boomers retire in droves and try to cash out their investments.
No comments:
Post a Comment