Ottawa releases proposed insolvency law amendments

What employers need to know about the changes being pondered by the federal government
By Susan Grundy
|Canadian Employment Law Today

A number of insolvency reforms were passed by the Canadian government in late 2005 but were not proclaimed into effect because a Senate committee identified numerous technical flaws in the legislation. The insolvency reforms have been under review since that time and the federal government recently released a draft package of revisions. The proposed revisions were made public as part of a low-profile notice of motion filed in Parliament just before Christmas.

Background

The main elements of the amendments passed in 2005 are not changed by the proposed revisions. The changes adopted in 2005 included: