When a company in Canada goes bankrupt, the impact on employees’ wages can be significant and distressing.

Firstly, wages owed up to a certain limit are given priority under the Bankruptcy and Insolvency Act. This means employees may receive some compensation for wages earned but not paid before other creditors are paid.

The Wage Earner Protection Program (WEPP) compensates eligible employees for unpaid wages, vacation pay, severance, and termination pay up to a capped amount.

The claiming process has specific steps and deadlines, and not all employees may receive the full owed amount.

Compensation may not be immediate due to the lengthy bankruptcy process, requiring employees to navigate legal pathways while potentially seeking new employment.

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