Acts and Regulations

2011, c.235 - Wage Earners Protection Act

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Assignment for benefit of creditors
3When an assignment is made of any real or personal property for the general benefit of creditors, whether the assignment contains preferences or not, the assignee shall pay, in priority to the claim of the ordinary or general creditors and likewise other preferred creditors of the person making the assignment, the wages or salary of all persons in the employment of the assignor at the time of the making of the assignment or within one month before the making of it, not exceeding three months wages or salary, and those persons rank as ordinary or general creditors for the residue, if any, of their claims.
R.S.1973, c.W-1, s.1
Assignment for benefit of creditors
3When an assignment is made of any real or personal property for the general benefit of creditors, whether the assignment contains preferences or not, the assignee shall pay, in priority to the claim of the ordinary or general creditors and likewise other preferred creditors of the person making the assignment, the wages or salary of all persons in the employment of the assignor at the time of the making of the assignment or within one month before the making of it, not exceeding three months wages or salary, and those persons rank as ordinary or general creditors for the residue, if any, of their claims.
R.S.1973, c.W-1, s.1