Proceedings of the Standing Senate Committee on
Banking, Trade and Commerce
Issue 13 - Minutes of Proceedings
OTTAWA, Wednesday, November 17, 2010
(28)
[English]
The Standing Senate Committee on Banking, Trade and Commerce met this day at 4:20 p.m., in room 9, Victoria Building, the deputy chair, Honourable Céline Hervieux-Payette, P.C., presiding.
Members of the committee present: The Honourable Senators Eggleton, P.C., Gerstein, Greene, Hervieux-Payette, P.C., Housakos, Kochhar, Massicotte, Moore, Oliver, Patterson and Ringuette (11).
Other senators present: The Honourable Senator Harb and Merchant (2).
In attendance: John Bulmer and Adriane Yong, Analysts, Parliamentary Information; and Francine Pressault, Communications Officer, Communication Directorate.
Pursuant to the order of reference adopted by the Senate on Thursday, June 17, 2010 began its examination of Bill S-216, An Act to amend the Bankruptcy and Insolvency Act and the Companies' Creditors Arrangement Act in order to protect beneficiaries of long term disability benefits plans.
WITNESSES:
Senate of Canada:
The Honourable Senator Art Eggleton, P.C., sponsor of the bill.
Federally Regulated Employers — Transportation and Communication (FETCO):
John P. Farrell, Executive Director.
Canadian Bankers Association:
Bill Randle, Assistant General Counsel and Foreign Bank Secretary;
Bill Kennedy, Vice President, Special Loans.
As an individual:
Patrick Shea, Lawyer.
The Honourable Senator Eggleton, P.C., made a statement and answered questions.
At 5:20 p.m., the committee suspended.
At 5:24 p.m., the committee resumed.
Mr. Randle, Mr. Farrell and Mr. Shea each made statements and, together with Mr. Kennedy, answered questions.
At 6:30 p.m., the committee adjourned to the call of the chair.
ATTEST:
OTTAWA, Thursday, November 18, 2010
(29)
[English]
The Standing Senate Committee on Banking, Trade and Commerce met this day at 10:30 a.m., in room 9, Victoria Building, the deputy chair, Honourable Céline Hervieux-Payette, P.C., presiding.
Members of the committee present: The Honourable Senators Eggleton, P.C., Greene, Harb, Hervieux-Payette, P.C., Kochhar, Marshall, Martin, Merchant, Moore, Ogilvie and Plett (11).
Other senator present: The Honourable Senator Nancy Ruth (1).
In attendance: John Bulmer, Adriane Yong, Analysts, Parliamentary Information and Research and June Dewetering, Chief, Macroeconomics, Library of Parliament; and Francine Pressault, Communications Officer, Communication Directorate.
Pursuant to the order of reference adopted by the Senate on Thursday, June 17, 2010 continued its examination of Bill S-216, An Act to amend the Bankruptcy and Insolvency Act and the Companies' Creditors Arrangement Act in order to protect beneficiaries of long term disability benefits plans.
WITNESSES:
As individuals:
Diane A. Urquhart, Independent Financial Analyst;
Josée Marin.
Nortel Disabled Employees not represented by CAW Canada:
Susan Kennedy, Court-appointed Representative.
As an individual:
Peter Burns.
Council of Canadians with Disabilities (by video conference):
Jim Derkson, Consultant.
HealthCare Benefit Trust:
Jeremy Bell, Chief Actuary, Chief Investment Officer, Actuarial Services.
As an individual:
James Pierlot, Pension Lawyer and Consultant.
Canadian Life and Health Insurance Association:
Frank Swedlove, President.
Ms. Kennedy, Ms. Marin, Ms. Urquhart, Mr. Burns and Mr. Derkson each made statements and answered questions.
At 11:20 a.m., the committee suspended.
At 11:24 a.m., the committee resumed.
Mr. Bell, Mr. Pierlot and Mr. Swedlove each made statements and answered questions.
At 11:58 a.m., the committee suspended.
At 12 p.m., the committee resumed.
It was agreed to distribute the proposed amendment prepared by Senator Eggleton, P.C..
It was moved by the Honourable Senator Greene that the committee adjourn now and that the Steering Committee determine a date for the committee to reconvene on this subject.
The question being put on the motion it was adopted.
At 12:10 p.m., the committee adjourned to the call of the chair.
ATTEST:
Line Gravel
Clerk of the Committee