Rafferty’s bill passes second reading

MP John Rafferty (Thunder Bay – Rainy River) is celebrating a successful vote for his private member’s bill in the House.

The NDP member tabled Bill C-501, which would grant secured status to pension plans for employees whose company is going through restructuring and bankruptcy proceedings.

Rafferty said he is pleased that the bill passed the crucial first vote by Parliament, but added that he is disappointed at the number of Conservative members who voted against it. The bill was fully supported by the NDP, Liberals and Bloc MPs.

About a dozen Tories voted in favour of it, while the rest of the government’s MPs voted against. MP Greg Rickford (Con, Kenora) was among the Conservative members who voted against the New Democrat bill.

The bill passed 144-to-112. Rafferty said the proposed amendment to the Bankruptcy and Insolvency Act came in response to concerns expressed by the region's AbitibiBowater workers and pensioners.

The changes would put workers at the front of the line of creditors when a company goes bankrupt or files for bankruptcy protection. The bill will now be discussed by an all-party committee where experts and witnesses will be heard, and amendments can be tabled by committee members.