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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

August 20, 2014

On August 19, 2014, Justice Newbould of the Ontario Superior Court of Justice (Commercial List) released a decision finding that Nortel Bondholders were not entitled to post-filing interest in the Canadian allocation proceeding. For more information and to view the decision please click here

June 23, 2014

The trial to determine the allocation of Nortel's assets began May 12th and the evidentiary portion is set to continue until June 26th. Further information regarding the trial and the positions of the parties are provided in the pre-trial briefs provided at the Allocation Litigation tab that can be accessed by clicking here.

Daily summaries are available here.


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