O’Toole vows to force bankrupt firms to pay pensions over executive bonuses

DM

A day after throwing a line to private-sector union workers, Conservative Leader Erin O’Toole is digging in against what the party calls “corporate elites” in a pitch to Canadian seniors and working-class voters. O’Toole is pledging to give priority to pensioners over companies and most other creditors during bankruptcy or restructuring proceedings. At an announcement from his virtual broadcast studio in Ottawa, he said a Conservative government would amend legislation to prevent executives from paying themselves bonuses while steering a company through restructuring unless the pension plan is fully funded.

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