Employee Rights with Bankruptcy Protection & Bankruptcy Receivership

Table of Contents

What Happens when your Company files for protection under the Companies’ Creditors Arrangement Act (CCAA)?

When this happens, the company that you work for is filing for protection, and working to re-organize the debts that your company has, and working to help survive and to work to avoid filing for bankruptcy.

The CCAA governs how a company should deal with bankruptcy protection, and how any money that is owed is also paid out.

 What should you do?

This will depend on if you are in a union or not.

 If you are a member of a union

In cases such as this where a union represents you, your union will then provide you with the necessary information regarding the entire situation.

 If you are not a member of a union

  • You will need to find out the status of the protection your company is seeking. Find out if a monitor was appointed, if so, get their contact info.
  • Contact the Ontario Ministry of Labour. They can help assist you with finding out how much you are owed. They may be able to provide some assistance with arranging the needed paperwork that will be submitted to the monitor.

Company has gone into receivership or filed for bankruptcy

When the company you work for, goes into bankruptcy or has gone into receivership, the Bankruptcy and Insolvency Act will then dictate how the money that is owed, is paid out to all its creditors.

 What should you do?

This will depend on if you are in a union or not.

 If you are a member of a union

Then you will need to get the necessary information from your union regarding it.

 If you are not a member of a union

Get the necessary information regarding the receiver or the trustee from your company.

When you have this info, the Ontario Ministry of Labour can help find out how much money your company owes you. They may be able to provide some assistance with arranging the needed paperwork that will be submitted to the receiver or the trustee.

 Additional Info

The WEPP Wage Earner Protection Program applies after July 7, 2008 for receiverships or bankruptcies of an employer. The program helps provide some compensation for employees that are owed monies from their bankrupt employer.

In this case, a claim must be filed with Service Canada within 56 days of the date of Receivership or Bankruptcy.

Take Your First Step Towards A Debt Free Life

If you are overwhelmed by debt, call us at 1-844-962-9200 to book a FREE, confidential appointment. We will review your financial situation in detail and discuss all of your options with you. Alternatively, you can fill out the form below and our team will reach out to you. 

Share This!

The team at David Sklar and Associates Inc are very professional and are willing to help you get out of debt. Highly recommended.
Melissa MacKenzie
12:35 29 Mar 23
I would like to thank the team at David Sklar and associates inc. for all the time and effort they put in to support this process for me. This topic can be challenging to disclose but a big thank you to Christine for going above and beyond in guiding me through all my options and supporting me through the decisions. I cannot recommend this group enough , as they have shown me compassion , knowledge , and understanding throughout the entire process. I look forward to the next step of this process and learning how the proper way of becoming financially educated through the support of their financial counselling team. For anyone who is struggling , just know that there is a wonderful group of educated professionals at David Sklar who are available to help!
Michelle Plouffe
18:45 14 Mar 23
It took me awhile to get up the courage to contact David Sklar but I’m so glad I did. Trina walked through my options with me and provided the knowledge I needed to make a decision to help turn my financial situation around. She is patient and empathetic and answered any and every question that I had. Trina provided me the reassurance I needed that I was making the best decisions for me and my family. I’m so happy that I reached out and now have a plan to get back on track.
M. Mackenzie
19:59 12 Mar 23
Trina was very helpful and thorough.
Sam M
15:26 12 Mar 23
Christine was very helpful, kind, and understanding. She explained everything thoroughly, answered any questions I had, and was responsive to any concerns I had. 100% would recommend
Katherine Campbell
17:29 08 Mar 23
Jackie Stanley is excellent she took the time to explain everything to me and I am so grateful to her for giving me a fresh financial start so if you have any doubts don’t and go see her if you want to achieve financial freedom!
Heather Helfield
21:24 06 Mar 23
Amazing friendly staff that knows what they are going. They make a difficult situation not so bad. Would give 10 stars if I could.
alie Balan
22:37 25 Feb 23
Very helpful and kind and gave me all the available options before helping me decide which one was best for me. I would definitely recommend Jackie
Alison Rivard
01:01 21 Feb 23
Great experience i was in financial trouble and someone of my friends recommended this company. Cori is a wonderful and welcoming person she did a very good job and came up with a smooth and flexible monthly payment after the reduction. i highly recommend this company. Thank you David sklar and special thanks to Cori.❤️🙏🏻
Jasmine Joseph
22:08 13 Jan 23
Met up with Mr. Jason Sklar to discuss more in person, very thorough and clear. He is very kind and thoughtful, I will be referring anyone with the same situation to David Sklar & Associates.
Ariel Domingo
02:33 29 Dec 22
DS david skalr icon

Book your free consultation.

Call 1-844-962-9200 or fill out the form below. We’ll do the rest.

Contact Us