From: stephen@sprunk.org   
      
   On 22-Aug-14 15:45, Adam H. Kerman wrote:   
   > Stephen Sprunk  wrote:   
   >> On 22-Aug-14 13:20, Adam H. Kerman wrote:   
   >>> Again: Stephen's reading comprehension problem rears its ugly   
   >>> head. Golden parachute payment is neither wages nor bonus nor   
   >>> pension. Golden parachute payment is quite the opposite of a   
   >>> bonus. In fact, the CEO gets paid to go away and go make some   
   >>> other company fail.   
   >>   
   >> A bonus for being fired is little different from a bonus for being   
   >> hired.  Either way, it's still a bonus, which is a subset of   
   >> wages.   
   >   
   > A hiring bonus is to compensate for work about to be performed   
      
   No, that's what regular wages are for.   
      
   > and because of higher personal expenses when moving to take a new   
   > job.   
      
   ... and because of the other instability and risks caused by giving up   
   the previous job.  Likewise, a termination bonus is compensation for the   
   instability and risks of losing this job.   
      
   > There is no similarity at all with a golden parachute.   
      
   Legally, they're exactly the same thing: wages.   
      
   >>> You're going to have cite chapter and verse of Canadian   
   >>> bankruptcy law to make the point that MM&A's top people were   
   >>> entitled to bankruptcy protection of the golden parachute   
   >>> payments if you insist I'm wrong.   
   >>   
   >> I'm not even sure what you're asking for here.   
   >   
   > I want to hear that Canadian bankruptcy law treats golden parachute   
   > payments same as wages, as you're feigning expertise. So you should   
   > be able to cite chapter and verse from civil law of Canada.   
      
   Why do you think Canadian (or any country's) bankruptcy law treats that   
   specific subset of wages (or even bonuses in general) differently from   
   every other type of wages?   
      
   > Of course, I've never heard of any company that would negotiate such   
   > executive compensation in case of bankruptcy, but golden parachute   
   > provisions are generally outrageous.   
      
   It's very common for executives to get a termination bonus, and it's   
   also common (though not as common as it should be) for them to get fired   
   for bankrupting the company.  And since that debt qualifies as wages, it   
   will get payment priority over other unsecured creditors.   
      
   S   
      
   --   
   Stephen Sprunk         "God does not play dice."  --Albert Einstein   
   CCIE #3723         "God is an inveterate gambler, and He throws the   
   K5SSS        dice at every possible opportunity." --Stephen Hawking   
      
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