Pensioners in company pension plans will no longer go to the back of the line when companies go bankrupt, thanks to Conservative MP Marilyn Gladu. In Ottawa, pensioners celebrated the passage of a new private-member’s bill by Gladu, MP for Sarnia-Lambton. The bill aims to move company pensioners to the front of the line in corporate bankruptcy cases. In the past, pensioners were left holding the bag when companies like Nortel Networks and Sears Canada went out of business – while banks and secured creditors took priority.
