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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 11, 2015

On March 11, 2015, the Ontario Superior Court of Justice (Commercial List) increased the maximum amount that can be applied for from the Hardship Fund as follows:

i. Former employees (including LTD beneficiaries) are now eligible to apply for a maximum payment of up to 16 weeks of salary based on a maximum weekly salary of up to $1,200 per week. A further $5,000 can be awarded at the discretion of the hardship committee in the case of medical or other emergency (for a total maximum of $24,200); and

ii. Pensioners and Survivors are now eligible for a maximum payment of $10,000.

For information on the increases, as well as the eligibility requirements and procedure please click here.

The Court also extended the stay period to October 2, 2015.

To see a copy of the Court Order please click here

March 10, 2015

The Monitor recently sent T4 slips for distributions made from the Health and Welfare Trust (HWT) to Pensioners on account of Pensioner Life in late March 2014. If you have questions about the tax slip please click here to view a copy of our FAQ or send us an email at Nortel@kmlaw.ca or call our toll-free hotline at 1-866-777-6344.


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