Speech (committee meeting)

{
    "time": "2021-06-15 12:10:00",
    "attribution": {
        "en": "Mr. Mark Schaan",
        "fr": "M. Mark Schaan"
    },
    "content": {
        "en": "<p data-HoCid=\"6821859\" data-originallang=\"en\">Yes, a deemed trust is a complicated piece of insolvency, so it's difficult to generalize on the basis of deemed trusts, and Indalex is an issue that remains an issue in a number of potential and current cases. </p>\n<p data-HoCid=\"6821860\" data-originallang=\"en\">To your broader point, though, about relative levels of fundedness, it is worth noting that the current funded ratio for DB pension plans belonging to companies in the S&amp;P/TSX composite index increased from 90.8% to 91.2% funded over the past 12 months. We are seeing high levels of fundedness, particularly for those plans that are held to high-funded solvency ratios like they are in the federal zone.</p>\n<p data-HoCid=\"6821861\" data-originallang=\"en\">In terms of the economic rationale for the potential implications of a superpriority, which we discussed, I don't know if it was through Mr. Poilievre's urging or others', but we did, I believe, through the clerk receive.... We received and then, I believe, the clerk received an indication from the Association of Canadian Pension Management of their strong concerns about the economic implications of a superpriority. </p>\n<p data-HoCid=\"6821862\" data-originallang=\"en\">Just to note, there has been some, but I can't speak to the others. All I can say is that we do worry about the potential implications of a decline in restructurings and not liquidations.</p>",
        "fr": "<p data-HoCid=\"6821859\" data-originallang=\"en\">Oui, une fiducie r\u00e9put\u00e9e est un \u00e9l\u00e9ment complexe de l'insolvabilit\u00e9, et il est difficile de faire des g\u00e9n\u00e9ralisations en fonction des fiducies r\u00e9put\u00e9es, et Indalex est un probl\u00e8me qui subsiste dans plusieurs cas, potentiels et r\u00e9els.</p>\n<p data-HoCid=\"6821860\" data-originallang=\"en\">En ce qui concerne votre question plus g\u00e9n\u00e9rale, par contre, au sujet des niveaux relatifs de capitalisation, il faut signaler que le ratio de capitalisation des r\u00e9gimes de pension \u00e0 prestations d\u00e9termin\u00e9es appartenant \u00e0 des soci\u00e9t\u00e9s de l'indice composite S&amp;P/TSX est pass\u00e9 de 90,8 % \u00e0 91,2 % au cours des 12 derniers mois. Nous observons des niveaux \u00e9lev\u00e9s de capitalisation, en particulier pour les r\u00e9gimes qui sont assujettis \u00e0 des ratios de solvabilit\u00e9 \u00e0 haute capitalisation, comme ceux de la zone f\u00e9d\u00e9rale.</p>\n<p data-HoCid=\"6821861\" data-originallang=\"en\">Pour ce qui est de la justification \u00e9conomique des cons\u00e9quences \u00e9ventuelles d'une superpriorit\u00e9, dont nous avons discut\u00e9, je ne sais pas si c'\u00e9tait \u00e0 la demande de M. Poilievre ou de quelqu'un d'autre, mais je crois que nous avons re\u00e7u par l'entremise du greffier... Nous avons re\u00e7u, et le greffier aussi, je crois, de l'Association canadienne des administrateurs de r\u00e9gimes de retraite, une indication de ses vives pr\u00e9occupations au sujet des r\u00e9percussions \u00e9conomiques d'une superpriorit\u00e9.</p>\n<p data-HoCid=\"6821862\" data-originallang=\"en\">Disons qu'il y en a eu plus d'une, mais je ne peux pas parler des autres. Tout ce que je peux dire, c'est que nous sommes pr\u00e9occup\u00e9s par les implications possibles d'une baisse du nombre de restructurations et pas des liquidations.</p>"
    },
    "url": "/committees/industry/43-2/46/mark-schaan-6/",
    "politician_url": null,
    "politician_membership_url": null,
    "procedural": false,
    "source_id": "11394981",
    "document_url": "/committees/industry/43-2/46/",
    "related": {
        "document_speeches_url": "/speeches/?document=%2Fcommittees%2Findustry%2F43-2%2F46%2F"
    }
}