
Publication
Navigating distressed M&A
Investors and advisers have been poised for a flood of distressed M&A transactions since the early days of the pandemic.
We use cookies and other similar technology to collect data about you to allow us to deliver our online services, measure our website audience and improve your browsing experience. Full details on the cookies we use are set out in our Cookies policy. Please click OK to signify your consent to our use of cookies.
You can withdraw your consent by clicking “manage cookies” and following the instructions shown.
Canada | Publication | April 22, 2020 - 12 PM ET
Workers
Which workers are covered has not changed since our last publication – “Preliminary analysis of the new Canada Emergency Response Benefit Act.” They must still be at least 15 years of age, be residents in Canada and, for 2019 or the 12-month period preceding their application, have a total income of at least $5,000 from:
According to the latest government announcements, this income includes non-eligible dividends, but does not include pensions, student loans and bursaries.
Eligibility
The CERB eligibility requirements have recently been expanded. To be eligible, workers must now have stopped working or expect to stop working due to COVID-19 and find themselves in either of the following situations :
Workers who are eligible to receive Employment Insurance (EI) regular or sickness benefits and workers who have exhausted their EI benefits in the period between December 29, 2019, and October 3, 2020, are also eligible to receive the CERB.
Eligibility periods
The four-week CERB eligibility periods are the following:
Application Cycle | Periods |
1st cycle | March 15, 2020, to April 11, 2020 |
2nd cycle | April 12, 2020, to May 9, 2020 |
3rd cycle | May 10, 2020, to June 6, 2020 |
4th cycle | June 7, 2020, to July 4, 2020 |
5th cycle | July 5, 2020, to August 1, 2020 |
6th cycle | August 2, 2020, to August 29, 2020 |
7th cycle | August 30, 2020, to September 26, 2020 |
CERB applications
CERB applications can be filed online or over the phone. In both cases, workers will be asked to file one application on the day listed for their birth month, and this for each eligibility period indicated above:
Birth month | Day(s) for applying |
January, February, March | Monday |
April, May, June |
Tuesday |
July, August, September |
Wednesday |
October, November, December | Thursday |
Any month | Friday, Saturday, Sunday |
When filing their applications, workers will be asked to provide their contact information and social insurance numbers, and confirm they meet the CERB eligibility requirements. However, they may later be asked to send additional documents to verify their eligibility. Note that workers will not be required to provide medical certificates in support of their applications.
Workers whose situation persists must file a new CERB application for each four-week eligibility period, up to a maximum of 16 weeks.
Workers who start working again after getting a CERB payment and then stop working will need to re-apply for the CERB. In such cases, workers may be required to return or repay the CERB received, notably if the income they earn when they return to work in the eligibility period for which they filed the application exceeds $1,000.
Workers who received a CERB payment and know that they will need to repay it may consult the steps for returning or repaying the CERB.
CERB amounts
The CERB amount to which workers will be entitled for a given week is set at $500, regardless of the EI amount (whether lower or higher) to which they would have been entitled.
Interaction with government programs
• CERB and Work-Sharing program: Work-Sharing program participants cannot receive CERB benefits, only EI benefits.
• CERB and Supplemental Unemployment Benefits: to date, the government has not clarified what impact the CERB will have on Supplemental Unemployment Benefits.
• CERB and Canada’s Emergency Wage Subsidy: employers cannot request Canada’s Emergency Wage Subsidy for workers who have been without remuneration for 14 or more consecutive days in a given eligibility period. In this situation, workers will therefore be eligible for the CERB if they meet the other eligibility requirements.
Publication
Investors and advisers have been poised for a flood of distressed M&A transactions since the early days of the pandemic.
Publication
On January 18, the Competition Bureau announced a consultation process and released its promised draft enforcement guidance for the pending criminal prohibition on wage-fixing and no-poach agreements introduced in the June 2022 amendments to the Competition Act (the Act).
Publication
Rising interest rates, long-lasting inflation, supply chain uncertainty, regulatory changes, pressure for business transformation, geopolitical instability, economists predicting a global recession – dealmakers are increasingly confronted with extremely challenging conditions that affect their M&A-roadmaps.
Subscribe and stay up to date with the latest legal news, information and events...
© Norton Rose Fulbright LLP 2023