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Nothing for workers at bankrupt firm
Year Published: 1989Resource Type: Article Cx Number: CX3653 Abstract: Workers at a bankrupt limousine company in the Toronto area have been told they have no hope of collecting any of the $625,000 in severance and termination pay which is owed to them. At a bankruptcy hearing for Eureka Coach Company, 130 workers received nothing, while the Toronto-Dominion Bank and a Vancouver-based holding company split the firm's $1.5 million in assets. "The workers get a kick in the teeth any time a company declares bankruptcy," said Jerry Dias, president of Canadian Auto Workers Local 112, which represented the workers. He urges changes in federal and provincial insolvency laws to ensure that employees receive monies owing to them. |