How to deal with employees in a proposal under the Bankruptcy and Insolvency Act

With business struggling during the COVID-19 pandemic a large workforce may become a significant liability. Terminating employees may be the only option to allow the business to survive. But the obligations that are owed if many employees are terminated at the same time may be too large for the employer to pay, which creates a situation where the employer cannot afford to keep its employees but also cannot afford to terminate them. A proposal under the Bankruptcy and Insolvency Act may be the solution.