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Koskie Minsky LLP

Koskie Minsky LLP

Nortel Networks Corporation


Overview

On January 14, 2009, Nortel Networks Corporation and several of its affiliated companies ("Nortel") were granted protection from their creditors under the Companies' Creditors Arrangement Act (the "CCAA") pursuant to an Order of the Honourable Justice Morawetz. Ernst & Young was appointed as Monitor of Nortel's CCAA proceedings.

On May 27, 2009, the Ontario Superior Court of Justice (Commercial List) granted a Representation Order appointing Koskie Minsky LLP as Representative Counsel for all former employees of Nortel. In accordance with the Representation Order, KM will act as Representative Counsel to all former employees of Nortel, unless specifically excepted or unless the individual chooses otherwise.

On July 30, 2009, Koskie Minsky was appointed as Representative Counsel for employees of Nortel who are in receipt of long-term disability benefits, subject to certain exceptions.

On March 31, 2010, the Ontario Superior Court of Justice approved a Settlement Agreement which secures the continuation of medical and life insurance benefits, and long-term disability and survivor income benefits, through 2010. As part of the negotiated settlement, eligible terminated employees will also get a lump sum payment in advance of the claims process.


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Latest Developments

March 28, 2014

On December 2, 2013, the Monitor posted a Notice of Declared Distribution on its website declaring a distribution from the Health and Welfare Trust (HWT) to Participating Beneficiaries on account of their Participating Benefits calculated in accordance with the Court-approved HWT Allocation Methodology.

The distribution on account of Pensioner Life to Pensioners was made today, March 28, 2014.

The distribution to LTD and Survivors was paid on December 6, 2013.

To view further information on the HWT distributions please visit our Health and Welfare Trust tab by clicking here.

March 21, 2014

The Ontario Superior Court of Justice (Commercial List) extended the stay period and the deadline for filing a Hardship Application to October 3, 2014. To see a copy of the Court Order please click here.


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