The media recently reported that the Northern Transportation Company Limited is having financial difficulties and is seeking protection from its creditors. This announcement came as a shock to employees, retirees and the union. PSAC represents 39 workers at the company, which provides shipping services to communities and exploration projects throughout the Northwest Territories and the western Arctic.
NTCL is being allowed to continue daily operations while pursuing a restructuring and reorganizing process.
PSAC has looked at the court documents filed by NCTL. Those documents state that:
- NTCL is currently unable to meet the financial commitments owed to existing creditors.
- The requirement to address the existing solvency deficiency in the NTCL Pension Plan is cited as a financial concern.
How will PSAC protect workers’ and retirees’ pensions?
In order to protect the employment and pension entitlements of plan members and retirees, PSAC has retained a law firm with many years of experience defending and representing the interests of employees, pension plan participants and retirees in insolvency proceedings.
How does this affect collective bargaining?
The current collective agreement between PSAC and NTCL expired on November 30, 2015. Preliminary bargaining meetings were held in Hay River, NWT during the week of April 18-22, 2016. During those meetings, the company made no mention of restructuring or a possibility of court proceedings.
PSAC has asked for bargaining to resume as soon as possible.
What happens next?
- The next court date for NTCL will be May 26, 2016 in Calgary. PSAC and UCTE representatives will be present and participate.
- PSAC will also arrange for a public meeting in Hay River to discuss this issue. We will advise members directly and post details on the PSAC website.
- PSAC will work with the other bargaining agents (Canadian Merchant Service Guild and the Seafarer’s International Union) who also represent NTCL employees.
How do I stay informed?
PSAC is committed to continue keeping impacted members up to date.
- Regular updates will be posted on the PSAC and UCTE websites.
- Additional information will be mailed directly to NTCL employees who are members of PSAC, as well as NTCL pensioners who have provided their contact coordinates.
If you have any questions or concerns about this process, please contact 613-560-4215 or email@example.com.