Ontario’s pension benefits guarantee fund has successfully reclaimed some $200 million from monies allocated to pensioners in Nortel Networks Corp. bankruptcy proceedings. The silver lining for pensioners is that the decision by the Financial Services Tribunal finally puts an end to the uncertainty they’ve experienced since their benefits were cut off in 2010. “It would have […]
The Supreme Court of Canada won’t hear an appeal from a former Nortel Networks Corp. employee who claimed her charter rights were violated over the issue of disability payments. The employee, Jennifer Holley, had argued the 2015 agreement setting out disability benefits in the wake of Nortel’s bankruptcy was unfair and unreasonable. According to a news […]
A settlement has been reached to end a lengthy battle over divvying up the US$7.3 billion raised in Nortel Networks Corp.’s bankruptcy liquidation. The decision could bring some certainty for about 20,000 Nortel pensioners in Canada who have seen their benefits dramatically reduced since the bankruptcy filing in 2009. The former Canadian technology giant filed […]
While there has been plenty of attention on the affect of Nortel Networks Corp.’s bankruptcy on its pension plan members, the struggle by a group of employees to receive what the company owes them in long-term disability benefits plan has been less prominent. But amid years of legal wrangling, a group of 350 long-term disabled […]
After a six-year legal battle, it’s finally time for the former employees of the bankrupt technology firm Nortel Networks to learn what to do with their pension payments. In May 2015, when a court decided the fate of the remaining Nortel assets, it also signalled a light at the end of the tunnel for Canadian pensioners who have seen their […]
The scraps of bankrupt Nortel Networks, once considered the powerhouse of Canada's tech sector, will be split between the various subsidiaries it once operated around the world, according to decisions released Tuesday.
Nortel Retirees and Former Employees Protection Canada (NRPC) fully supports an appeal by the monitor for Nortel's Canadian debtors.
A group representing Nortel Networks retirees and pensions is glad that the company's bankruptcy trial is nearly finished.
Nortel Retirees and Former Employees Protection Canada strongly objects to the proposed settlement between the American division of Nortel Networks and some of its bondholders.
Former employees of Nortel Networks in Canada are looking to reclaim their share in the allocation of the company's global estate, but only on a fair and equitable basis.