• New Class of Protected Pension Claims Under the BIA and CCAA
  • July 3, 2013 | Author: Sam Babe
  • Law Firm: Aird & Berlis LLP - Toronto Office
  • With the coming into force of the Pooled Registered Pension Plans Act, S.C. 2012 c.16 (the “PRPPA”), in December 2012, amendments to the Bankruptcy and Insolvency Act (the “BIA”) and the Companies’ Creditors Arrangement Act (the “CCAA”) took effect to extend existing pension protections to claims made under pooled registered pension plans. These new protections arise in bankruptcies (BIA s. 81.5), receiverships (BIA s. 81.6), proposal proceedings (BIA subs. 60(1.5) and 65.13(8)) and CCAA plans (CCAA sub. 6(6)), and apply to both federally and provincially regulated plans.