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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

July 31, 2015

Notice of leave to appeal has been filed in Ontario by various US Interests, including the US Debtors, Bondholders, Unsecured Creditors Committee (UCC), the Bank of NY Mellon and a newly formed trade creditor consortium. In addition, a newly appointed conflict administrator on behalf of French Estate provided notice to stakeholders of their intention to seek leave to appeal. 

In the US, notices of appeal were filed by the US Debtors, Bondholders, Pension Benefits Guarantee Corporation (PBGC) and the UCC. Cross appeals were filed by the Trade Claims Consortium, as well as the UK Joint Administrators, the Monitor and the CCC. 

For more information on the appeals and next steps, please visit our Allocation Litigation Tab by clicking here.

July 7, 2015

On July 6, 2015, the Ontario Superior Court of Justice (Commercial List) and the United States Bankruptcy Court released decisions denying reconsideration of issues raised by the US Interests while providing clarifications further to the May 12th allocation decisions. 

For more information please visit the Allocation Litigation tab by clicking here.


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